Back Matter
Author: International Monetary Fund
Language:
English
Keywords:
MISC RPT; MISC; country; low-income country; MDG; income; poverty reduction; crisis trend; MDG indicator; country circumstances; Multilateral development institutions; Global; Sub-Saharan Africa; East Asia; Central Asia; South Asia
Download PDF (151.7 KB)

Abstract

What is the human cost of the global economic crisis? This year’s Global Monitoring Report, The MDGs after the Crisis, examines the impact of the worst recession since the Great Depression on poverty and human development outcomes in developing countries. Although the recovery is under way, the impact of the crisis will be lasting and immeasurable. The impressive precrisis progress in poverty reduction will slow, particularly in low-income countries in Africa. No household in developing countries is immune. Gaps will persist to 2020. In 2015, 20 million more people in Sub-Saharan Africa will be in extreme poverty and 53 million more people globally. Even households above the $1.25-a-day poverty line in higher-income developing countries are coping by buying cheaper food, delaying other purchases, reducing visits to doctors, working longer hours, or taking multiple jobs. The crisis will also have serious costs on human development indicators: • 1.2 million more children under age five and 265,000 more infants will die between 2009 and 2015. • 350,000 more students will not complete primary education in 2015. • 100 million fewer people will have access to safe drinking water in 2015 because of the crisis. History tells us that if we let the recovery slide and allow the crisis to lead to widespread domestic policy failures and institutional breakdowns in poor countries, the negative impact on human development outcomes, especially on children and women, will be disastrous. The international financial institutions and international community responded strongly and quickly to the crisis, but more is needed to sustain the recovery and regain the momentum in achieving the Millennium Development Goals (MDGs). Developing countries will also need to implement significant policy reforms and strengthen institutions to improve the efficiency of service delivery in the face of fiscal constraints. Unlike previous crises, however, this one was not caused by domestic policy failure in developing countries. So better development outcomes will also hinge on a rapid global economic recovery that improves export conditions, terms-oftrade, and affordable capital flows—as well as meeting aid commitments to low-income countries. Global Monitoring Report 2010, seventh in this annual series, is prepared jointly by the World Bank and the International Monetary Fund. It provides a development perspective on the global economic crisis and assesses the impact on developing countries—their growth, poverty reduction, and other MDGs. Finally, it sets out priorities for policy responses, both by developing countries and by the international community.

APPENDIX Classification of economies by region and income fiscal 2010

article image
Source: World Bank data.Note: This table classifies all World Bank member economies and all other economies with populations of more than 30,000. Economies are divided among income groups according to 2008 GNI per capita, calculated using the World Bank Atlas method. The groups are low income (LIC), $975 or less; lower middle income (LMC), $976-3,855; upper middle income (UMC), $3,856-11,905; and high income, $11,906 or more.

ECO-AUDIT: Environmental Benefits Statement

The World Bank is committed to preserving endangered forests and natural resources. The Office of the Publisher has chosen to print Global Monitoring Report 2010: The MDGs after the Crisis on recycled paper with 25 percent post-consumer waste, in accordance with the recommended standards for paper usage set by the Green Press Initiative, a nonprofit program supporting publishers in using fiber that is not sourced from endangered forests. For more information, visit www.greenpressinitiative.org.

Saved:

  • 19 trees

  • 6 million BTU of total energy

  • 1,768 pounds of CO2 equivalent of greenhouse gases

  • 8,515 gallons of wastewater

  • 517 pounds of solid waste

What is the human cost of the global economic crisis? This year’s Global Monitoring Report, The MDGs after the Crisis, examines the impact of the worst recession since the Great Depression on poverty and human development outcomes in developing countries. Although the recovery is under way, the impact of the crisis will be lasting and immeasurable. The impressive precrisis progress in poverty reduction will slow. No household in developing countries is immune. Gaps will persist to 2020. In 2015, 20 million more people in Sub-Saharan Africa and 53 million more people globally will be in extreme poverty. Even households above the $1.25-a-day poverty line in higher-income developing countries are coping by buying cheaper food, delaying other purchases, reducing visits to doctors, working longer hours, or taking multiple jobs.

The crisis will also have serious costs on human development indicators:

  • 1.2 million more children under age five and 265,000 more infants will die between 2009 and 2015.

  • 350,000 more students will not complete primary education in 2015.

  • 100 million fewer people will have access to safe drinking water in 2015.

History tells us that if we let the recovery slide and allow the crisis to lead to widespread domestic policy failures and institutional breakdowns in poor countries, the negative impact on human development outcomes, especially on children and women, will be disastrous.

The international financial institutions and international community responded strongly and quickly to the crisis, but more is needed to sustain the recovery and regain the momentum in achieving the Millennium Development Goals (MDGs). Developing countries will also need to implement significant policy reforms and strengthen institutions to improve the efficiency of service delivery in the face of fiscal constraints. Unlike previous crises, however, this one was not caused by domestic policy failure in developing countries. So better development outcomes will also hinge on a rapid global economic recovery that improves export conditions, terms-of-trade, and affordable capital flows—as well as meeting aid commitments to low-income countries.

Global Monitoring Report 2010, seventh in this annual series, is prepared jointly by the World Bank and the International Monetary Fund. It provides a development perspective on the global economic crisis and assesses the impact on developing countries—their growth, poverty reduction, and other MDGs. Finally, it sets out priorities for policy responses, both by developing countries and by the international community.

Cover Global Monitoring Report, 2010
Global Monitoring Report, 2010
The MDGs after the Crisis
Author: International Monetary Fund
ISBN:
9781455215959
ISSN:
0258-7440
Publication Date:
22 Apr 2010
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781455215959.083
Pages:
160