The Financial Crisis and Global Health Report

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As a consequence of the financial crisis in OECD countries, the world risks the most

serious economic downturn

cost of food and fuel are estimated to have tipped more than 100 million people back

into poverty. The challenge facing the world now is to prevent an economic crisis

becoming a social and a health crisis.

since the 1930s. The impact of earlier increases in the

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case, the crisis began in the industrialized world; it is therefore possible that the

full effects have yet to be manifest in developing countries. At the same time, for

the many low-income countries that have been facing chronic financial shortages,

hardship is not new.

their situation may get even worse as they are affected by the downturn, and through

causes which are not of their own making.

Earlier crises in the 1980s and 1990s started in developing countries. In the currentA grave human crisis is already happening. The problem is that

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required emergency assistance from the International Monetary Fund, where spending

restrictions may be imposed during loan repayment. Many developing countries are

in a far better fiscal position than they were in earlier crises, and most will continue

on a path of economic growth, albeit at a slower rate. However, those that depend

heavily on donor funding in health risk facing a decline in aid receipts. Populations

in those countries affected by or emerging from conflict, with few financial reserves,

weak institutions and damaged infrastructure, are especially vulnerable. Others,

particularly small island developing States, have to face an economic downturn while

coping with the imminent impact of climate change.

Some countries are at particular risk. These include developed countries that have

REPORT

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through loss of income or housing – that will be hardest hit. Identifying

populations In high- or low-income countries, however, it is the poor – and those made poorvulnerableis as important as identifying vulnerable countries.

Here Is A Snippet Of The Global And Health Crisis

To read more please go to www.who.int/toics/financial_crisis/financialcrisis_report_2009

All countries will be affected, but some will be affected more than others