Heat Wave in India Poses Risks for Nation’s Credit, Moody’s Says
- Parts of nation hottest in 122 years, boosting energy demand
- Temperature spike to curb wheat production, feed inflation
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A heat wave that’s made parts of India the hottest in 122 years may be a warning that heightened climate risks could drag on economic growth and worsen the nation’s credit scores.
Sweltering temperatures across northwestern India may have added to inflationary pressures in the world’s second-most populous nation and weighed on growth, wrote Moody’s Investors Service analysts including Christian de Guzman in a report dated Monday.