Global Monitoring Report, 2009: A Development Emergency

World Economic and Financial Surveys, April 27, 2009

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Global Monitoring Report, 2009: A Development Emergency

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Bibliographic details

• Published: April 27, 2009
• Series: World Economic and Financial Surveys
• DOI: https://doi.org/10.5089/9780821378595.083

Crisis overview and framing

• The global economic crisis is described as "the most severe since the Great Depression" and is "rapidly turning into a human and development crisis."
• No region is immune; poor countries are "especially vulnerable, as they have the least cushion to withstand events."
• The crisis follows the food and fuel crises and "poses serious threats to their hard-won gains in boosting economic growth and reducing poverty."
• The crisis is "pushing millions back into poverty and putting at risk the very survival of many."
• The prospect of reaching the Millennium Development Goals (MDGs) by 2015 "now looks even more distant."

Impact assessment focus

• The report "provides a development perspective on the global economic crisis."
• It assesses the impact on:
  • developing countries,
  • their growth,
  • poverty reduction,
  • other MDGs.
• Emphasis on both the immediate human/development consequences and risks to medium-term development progress.

Policy priorities and recommended responses

• A global crisis requires a global response.
• Immediate priority: stabilize financial markets in developed countries and counter the recession triggered by financial turmoil.
• Simultaneous priority: take "strong and urgent actions" to counter the impact on developing countries and help them restore strong growth while protecting the poor.
• The report "sets out priorities for policy response, both by developing countries themselves and by the international community."

Role of the private sector

• The report "focuses on the ways in which the private sector can be better mobilized in support of development goals, especially in the aftermath of the crisis."

Subjects and keywords (as listed)

• Subjects: Education, Financial crises, Health, Infrastructure, International trade, National accounts, Trade finance, Trade policy
• Keywords: a number of country, Africa, country, crisis, developing world, economy, financing, food crisis, Global, Infrastructure, low-income country, Middle East, MISC, MISC RPT, poverty impact, poverty reduction MDG, price, South Asia, Sub-Saharan Africa, Trade finance

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• Global Monitoring Report 2009: A Development Emergency
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  • Global Monitoring Report 2009: A Development Emergency (PDF)