Economic Crisis Impact

Impact of the economic crisis on developing countries

 

The financial crisis, originating in shiny board rooms of US and European banks, has turned into a deep, global crisis that is hurting those least able to defend themselves: the poor.

In February 2009 Ireland’s aid agencies recalled that the spreading economic crisis hits global poor hardest and posed a serious threat to achieving internationally agreed targets to overcome poverty.

UN estimates for 2008 show the number of people going hungry every day increased this year by 130-155 million. Estimates for 2009 suggest that an additional 46 million people in developing countries will have to survive on less than $1.25 a day, while an extra 53 million will stay trapped on less than $2 a day.

 

Key resources on the economic crisis and its impact on the developing world

Dóchas resources

Civil Society Organisations resources

Think tank and academic resources

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