Antonio Guterres, the secretary general of the UN, stated that we are currently dealing with a dangerous situation that could severely harm the economies of numerous developing nations. The UN's first official report on the impact of the war in Ukraine highlighted the negative effects it is having on the global economy, which is already suffering from the COVID-19 crisis and climate change. The report indicated that up to 1.7 billion people, a third of whom are already living in poverty, are now experiencing disruptions in food, energy, and finance. The rising energy prices, inflation, and stalled development are putting many countries at risk of defaulting on their debts. The report emphasized that these countries struggle to afford basic needs, rely on imports for food and energy, and have limited resources to handle the challenges of global financial conditions. According to the report, 107 countries are severely exposed to at least one of the three dimensions of the crisis, with 69 of those nations experiencing severe exposure to all three dimensions. Ukraine and Russia contribute approximately 30% of the world's wheat and barley. The conflict has led to a surge in commodity prices, with food prices up 34% compared to last year and crude oil prices up around 60%. The report warns that vulnerable populations in developing countries are at risk due to these price increases, which could lead to social unrest. However, the report suggests that swift action, political will, and available resources could help mitigate the impact, recommending measures such as not hoarding food supplies, supporting small farmers, stabilizing freight costs, and lifting export restrictions. Governments are urged to make strategic fuel reserves accessible to the global market and reduce the use of wheat for fuel. Text = Copyright The New York Times Company.