“… This untold story of the Financial Crisis is horrible and requries collective global efforts to tackle! while we are dragged into saving banks and financial institutions, we hide away from those poor women and children!!!” – Mouaz
The downturn is claiming victims that never appear on a balance sheet
A long walk from the boardroomNINE months after the collapse of Lehman Brothers, the world’s economic crisis is still usually discussed as though it consisted of dire bank balance-sheets, falling exports and bankruptcies or job losses in the West. But at the other end of the trail that starts with financial woes in rich countries are underweight children and anaemic expectant mothers in poor ones. New research by the United Nations’ standing committee on nutrition (available on www.unscn.org) gives a first estimate of how the crisis has hurt the group of people most affected by the crash: the very poorest.
In 1990-2007, the number of hungry people rose by about 80m, though this was, by and large, a period of rising incomes in developing countries (and a huge increase in population). In 2008 alone, the number rose a further 40m, to 963m—half as much in one year as during the previous 17. In other words, lots more children and pregnant women are not getting the food they need. The report reckons that the number of underweight children will rise from 121m to 125m by 2010, assuming no change in the size of the world economy (in fact, it is expected to shrink 2% this year). The World Bank has already estimated that until 2015 the crisis will lead to between 200,000 and 400,000 more children dying every year.
…Read more about the scary figures at the Economist here.