The conflict in the Middle East has escalated into a global debt shock, disproportionately affecting countries that did not cause the crisis. The food and energy price surge demands an urgent international response to aid the Global South.

<p>Once again, a global crisis is disproportionately burdening countries that did not cause it. Across the Global South, the food- and energy-price shock triggered by the conflict in the Middle East has morphed into a debt shock that demands an urgent international response.</p>