Reuters AlertNet Full site
Homepage | Newsdesk | NGO Latest | Crisis briefings | Country profiles | MediaWatch | Jobs | Alerting | Login

NEWSDESK

FACTBOX-Financial crisis and world's poor
26 Feb 2009 00:04:43 GMT
 Source: Reuters
Feb 26 (Reuters) - The global financial crisis has already begun to hit the world's poorest people. International aid agencies are also seeing a fall in private donations and governments are squeezing foreign aid budgets.

Here are some ways the economic downturn is expected to affect developing countries and aid groups:

* The crisis will trap 53 million more people in developing countries on less than $2 a day this year, according to the World Bank. That's on top of the 130-155 million pushed into poverty in 2008 by soaring food and fuel prices.

* Initial estimates for 2009 to 2015 indicate an average 200,000 to 400,000 more children may die each year if the crisis persists.

* Three-quarters of developing countries exposed to the poverty effects of the downturn cannot raise funds domestically or internationally to finance social spending programmes to curb the impact.

* In the last recession, overseas aid fell by a quarter and in 1972 to 1973, it was down by 15 percent, Oxfam says. Declining commodity prices are also harming poor countries.

* In the United States, private donations trebled following the attacks of September 11, 2001. Individuals accounted for 70 percent of the total. Since the onset of the financial crisis, some aid agencies report that grants from foundations have decreased by between 15 and 40 percent and giving by individuals has fallen by between 5 and 15 percent.

* In Britain, the Charities Aid Foundation (CAF) has launched a confidential financial crisis helpline offering guidance to charity leaders about how to get through the economic downturn by cutting costs and rebalancing their books.

- Sources: World Bank, Oxfam, InterAction, Charities Aid Foundation

(Compiled by Megan Rowling)


AlertNet news is provided by
Email this article       Send comments

Topics

•  Politics of Aid

MORE >>

NGO latest

•  A life of fear with no refuge: the Rohingya's struggle for survival and dignity
MSF International

•  South Sudan: John's Story
Medair - Switzerland

•  UMCOR Hotline for February 24, 2009
UMCOR - USA

•  HealthRight International is new name for Doctors of the World-USA
HealthRight Intl - USA

•  Disaster Risk Reduction: Investment for a Safer World
SEEDS- India

MORE >>

Latest news

•  FACTBOX-Financial crisis and world's poor

•  FEATURE-Downturn to cost billions in aid to world's poor

•  FEATURE-Isolation shields Afghanistan from financial crisis

•  Crisis sends Maasai aid project back to basics

•  Peace negotiators urge change of attitude on Hamas

MORE >>

AlertNet news is provided by

Background information

Topics
Politics of Aid
Facts & figures
United States of America Sudan Kenya India United Kingdom

Related articles

Breaking stories
 FACTBOX-Financial crisis and world's poor (1 minute ago)

FEATURE-Downturn to cost billions in aid to world's poor (1 minute ago)

AlertNet insight
 ANALYSIS: Global downturn to shrink climate funds for poor nations (1 minute ago)

Aid agency news feed
 A life of fear with no refuge: the Rohingya's struggle for survival and dignity (1 minute ago)

Blogs
 Life without George W: Enter Globama (1 minute ago)

Maps
 MAP: Global projected land use changes, 1700-2050 (1 minute ago)


Del.icio.us Del.icio.us  |   Digg Digg  |   NewsVine NewsVine  |   Reddit Reddit   
Thumb for /thefacts/imagerepository/RTRPICT/2009-02-25T101829Z_01_DEL208_RTRIDSP_2_INDIA_mainimage.jpg|/thenews/pictures/DEL208.htm
Thumb for /thefacts/imagerepository/RTRPICT/2009-02-25T101610Z_01_DEL207_RTRIDSP_2_INDIA_mainimage.jpg|/thenews/pictures/DEL207.htm
Thumb for /thefacts/imagerepository/RTRPICT/2009-02-25T101318Z_01_DEL206_RTRIDSP_2_INDIA_mainimage.jpg|/thenews/pictures/DEL206.htm
Thumb for /thefacts/imagerepository/RTRPICT/2009-02-25T095132Z_01_DEL203_RTRIDSP_2_INDIA_mainimage.jpg|/thenews/pictures/DEL203.htm
Thumb for /thefacts/imagerepository/RTRPICT/2009-02-25T095034Z_01_DEL200_RTRIDSP_2_INDIA_mainimage.jpg|/thenews/pictures/DEL200.htm

A Tibetan girl living in India holds prayer beads during a demonstration in New Delhi February 25, 2009. Hundreds of Tibetans gathered on Wednesday, on the occasion of Losar, the Tibetan ...


More pictures | Galleries
Disclaimers |  Copyright |  Privacy |  Contact Us |  Feedback |  About Us |  RSS XML

Last updated:Thu Feb 26 00:08:16 2009