Developing nations seek to overcome energy, currency crises

DHAKA, Bangladesh: Business leaders and officials from eight developing nations meeting in Bangladesh on Tuesday said more cooperation was needed among them to overcome dwindling foreign currency reserves, a growing energy crisis and supply chain disruptions.
Representatives from Egypt, Iran, Malaysia, Nigeria, Pakistan, Turkey and Bangladesh under the banner of D-8, or developing eight countries, were discussing alternative trade financing such as cross currency swap, barter and blockchain to address their foreign currency reserves vulnerabilities, according to organizers.