'Hurricane' of risks threatens emerging countries, says G20 chair

Emerging and developing nations face a "hurricane" of risks from rising energy costs and food insecurity, and any resilience some countries may have won't last long, the G20 chair said

Emerging and developing nations face a “hurricane” of risks from rising energy costs and food insecurity, and any resilience some countries may have won’t last long, the chair of the Group of 20 finance ministers forum said. 

“The hurricane is definitely very strong,” Indonesian Finance Minister Sri Mulyani Indrawati said in an interview with Bloomberg News in Washington. These difficulties -- coupled with inflation, dollar strength and interest-rate increases -- “will put many emerging and developing countries in a very serious, difficult situation.”

With the Federal Reserve undertaking the most aggressive rate-hike campaign in a generation to ensure its