WASHINGTON, 12. februar 2009: According to The World Bank Group, the global economic crisis is trapping up to 53 million more people in poverty in developing countries.
This poses a serious threat to achieving the UNs Millennium Development Goals (MDGs), which set specific targets by 2015 to overcome poverty.
New estimates for 2009 suggest that lower economic growth rates will trap 46 million more people on less than 1,25 US dollar a day than was expected prior to the crisis. An extra 53 million will stay trapped on less than 2 dollar a day.
This is on top of the 130-155 million people pushed into poverty in 2008 because of soaring food and fuel prices.
In a policy note issued in the run up to the Group of Seven finance ministers meeting on Saturday, the World Bank said almost 40 percent of 107 developing countries were highly exposed to the poverty effects of the crisis and the remainder was moderately exposed, with less than 10 percent facing little risk.
– The global economic crisis threatens to become a human crisis in many developing countries unless they can take targeted measures to protect vulnerable people in their communities, said World Bank Group President Robert B. Zoellick, adding:
– While much of the world is focused on bank rescues and stimulus packages, we should not forget that poor people in developing countries are far more exposed if their economies falter. This is a global crisis requiring a global solution. The needs of poor people in developing countries must be on the table.
The policy note said it was critical for exposed countries to finance job creation, the delivery of essential services and infrastructure, and safety net programs for the vulnerable.
