LONDON: Countries around the world are battling heatwaves and floods fuelled by El Nino, a naturally occurring climate phenomenon that has a 90% probability of persisting in the second half of 2023, according to the World Meteorological Organisation. The worldwide impact can be enormous, but the stakes are higher for emerging markets, which are more exposed to swings in food and energy prices and production and often have smaller fiscal buffers that limit their ability to cushion the impact. Ind
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2023-08-29 00:00:00.0