Friday, April 24, 2009

Backward slide in poverty gains

Bad news from the World Bank (part 1)... Millions are falling back into poverty due to the global economic downturn in Eastern Europe and Central Asia.

... and part 2: Negative growth for Africa despite relatively sound conditions in the financial sector.

Why Eastern Europe/Central Asia taking the earliest hit, but Africa is projected to take the biggest hit?

1 comment:

  1. "The crisis is impacting Africa through a sharp fall in four revenue generating areas: private capital flows, remittances, foreign aid and commodity prices"

    So, the US is looking at slow growth and its like "this is soo awful, I can't find a job and I might have to go get unemployment or, heaven forbid, food stamps." If growth slows in Africa 700,000 more babies will die as a result.