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118366
Sat, 04/24/2010 - 12:01
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Global financial crisis badly hit MDGs: WB-IMF report
WW-POVERTY
Lalit K Jha
Washington, Apr 23(PTI) Noting that the global economic
crisis has slowed the pace of poverty reduction in the
developing world, a new report by World Bank and International
Monetary Fund Friday said it is hampering progress of the
other Millennium Development Goals (MDGs).
The crisis is having an impact on several key areas of
the MDGs, including those related to hunger,child and maternal
health, gender equality, access to clean water, and disease
control and will continue to affect long-term development
prospects well beyond 2015, said the report titled 'Global
monitoring report 2010: The MDGs after the crisis'. The report
was jointly released here today by the Bank, IMF and Oxfam
International, which did the fieldwork for the study.
As a result of the crisis, as many as 53 million more
people will remain in extreme poverty by 2015 than otherwise
would have, the report said. Even then, the number of extreme
poor could total around 920 million five years from now,
marking a significant decline from the 1.8 billion people
living in extreme poverty in 1990, said the report.
Based on these estimates, the developing world as a
whole is still on track to achieve the first MDG of halving
extreme income-poverty from its 1990 level of 42 per cent by
2015, the report said.
Both the 2008 food price crisis and the very recent
financial crisis have played a role in exacerbating hunger in
the developing world, the report noted.
"The critical MDG target of halving the proportion of
people suffering from hunger from 1990 to 2015 appears very
unlikely to be met as over a billion people struggle to meet
basic food needs," it added.
"The financial crisis was a severe external shock that
hit the poor countries hard. Its effects could have been far
worse were it not for better policies and institutions in
the developing countries over the past 15 years," said IMF
deputy managing director Murilo Portugal.
"The crisis in the developing world has a potentially
serious impact in everyday life since the margin of safety for
so many people is so slim in even the best of times," he said.
Spurred by the recent strong performance in emerging
economies and the recovery of global trade, GDP growth in
developing countries is projected to accelerate to 6.3 per
cent in 2010, up from 2.4 per cent in 2009, according to new
IMF projections contained in the report. MORE PTI LKJ
KAB
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Lalit K Jha
Washington, Apr 23(PTI) Noting that the global economic
crisis has slowed the pace of poverty reduction in the
developing world, a new report by World Bank and International
Monetary Fund Friday said it is hampering progress of the
other Millennium Development Goals (MDGs).
The crisis is having an impact on several key areas of
the MDGs, including those related to hunger,child and maternal
health, gender equality, access to clean water, and disease
control and will continue to affect long-term development
prospects well beyond 2015, said the report titled 'Global
monitoring report 2010: The MDGs after the crisis'. The report
was jointly released here today by the Bank, IMF and Oxfam
International, which did the fieldwork for the study.
As a result of the crisis, as many as 53 million more
people will remain in extreme poverty by 2015 than otherwise
would have, the report said. Even then, the number of extreme
poor could total around 920 million five years from now,
marking a significant decline from the 1.8 billion people
living in extreme poverty in 1990, said the report.
Based on these estimates, the developing world as a
whole is still on track to achieve the first MDG of halving
extreme income-poverty from its 1990 level of 42 per cent by
2015, the report said.
Both the 2008 food price crisis and the very recent
financial crisis have played a role in exacerbating hunger in
the developing world, the report noted.
"The critical MDG target of halving the proportion of
people suffering from hunger from 1990 to 2015 appears very
unlikely to be met as over a billion people struggle to meet
basic food needs," it added.
"The financial crisis was a severe external shock that
hit the poor countries hard. Its effects could have been far
worse were it not for better policies and institutions in
the developing countries over the past 15 years," said IMF
deputy managing director Murilo Portugal.
"The crisis in the developing world has a potentially
serious impact in everyday life since the margin of safety for
so many people is so slim in even the best of times," he said.
Spurred by the recent strong performance in emerging
economies and the recovery of global trade, GDP growth in
developing countries is projected to accelerate to 6.3 per
cent in 2010, up from 2.4 per cent in 2009, according to new
IMF projections contained in the report. MORE PTI LKJ
KAB
The information contained in this electronic message and any attachments to this
message are intended for the exclusive
use of the addressee(s) and may contain proprietary, confidential or privileged
information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately and destroy
all copies of this message and any attachments contained in it.
Delete & Prev | Delete & Next
