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