311. The Impact of the Global Financial Crisis on the Budgets of Low-Income Countries
- Author:
- Katerina Kyrili and Matthew Martin
- Publication Date:
- 07-2010
- Content Type:
- Working Paper
- Institution:
- Oxfam Publishing
- Abstract:
- The financial crisis has hit developing countries hard, driving millions more people into poverty and reversing several years of rapid progress towards the Millennium Development Goals (MDGs). For most of the poorest people, the impact will depend on what governments do with their budgets–how much they spend to fight against the crisis, protect the poorest, and revive progress towards the MDGs. This report examines what 56 low-income countries have done in 2009 and are planning to do in 2010. It is unique in drawing on budget documents issued in June–December 2009, and therefore in being able to describe what is happening in detail, in order to look ahead to 2010 and beyond. This study is particularly timely as the deadline for countries to reach the MDGs is now only five years away.
- Topic:
- Development, Poverty, Third World, Global Recession, and Financial Crisis
- Political Geography:
- Africa