financial

Economic crisis set to drive 53 million more people into poverty in 2009 – World Bank

13 February 2009
The spreading global economic crisis is set to trap up to 53 million more people in poverty in developing countries this year on top of the 130-155 million driven into poverty in 2008 by soaring food and fuel prices, bringing the total of those living on less than $2 a day to over 1.5 billion, according to the World Bank.
Ambassador Kirsti Lintonen of Finland, Chairperson of Commission for Social Development

UN commission to recommend steps aiding vulnerable groups in economic crisis

4 February 2009
As governments scramble to shore up failing financial institutions and inject stimulus packages into deteriorating economies, the impact on the most vulnerable groups in all societies is going unnoticed, a United Nations commission warned today.
UNCTAD Secretary-General Supachai Panitchpakdi

Developing countries must help each other weather financial crisis, UN official says

4 February 2009
Trade, investment and other cooperation between developing countries – so called “South-South exchange – could soften the blow of the economic crisis on vulnerable economies, the head of the United Nations agency that promotes commerce to fight poverty said today.