Millennium Development Miles
Nowhere have the repercussions of the global economic crisis been as devastating as in the developing world, and now development aid is falling far short of donors' commitments. But innovative financing mechanisms - including a small tax on air tickets - offer real hope for sustaining progress in poor countries.
PARIS – The global economic crisis has claimed many victims – unemployed workers, underwater homeowners, and bankrupt pensioners – but nowhere have the repercussions been as devastating as in the developing world. The setback to the fragile gains of recent years, particularly in Africa, threatens to return millions of people to the extreme poverty from which they had just managed to escape. In addition to the prospect of enormous human suffering, severe economic, political, and social pressures now threaten to overwhelm and destabilize developing countries, triggering conflict on an unprecedented scale.
PARIS – The global economic crisis has claimed many victims – unemployed workers, underwater homeowners, and bankrupt pensioners – but nowhere have the repercussions been as devastating as in the developing world. The setback to the fragile gains of recent years, particularly in Africa, threatens to return millions of people to the extreme poverty from which they had just managed to escape. In addition to the prospect of enormous human suffering, severe economic, political, and social pressures now threaten to overwhelm and destabilize developing countries, triggering conflict on an unprecedented scale.