The Guardian: World's poor suffering most in the credit crunch
5 MARCH 2009 | LONDON
5 MARCH 2009 | LONDON - The credit crunch is hitting the income of the world's poorest people the most and will make the UN's Millennium Development Goals more difficult to achieve than ever, according to research released today.
The Global Monitoring Report from Unesco estimates the 390 million poorest Africans will see their income drop by around 20% - far more than in the developed world.
The global financial crisis has seen a fall in commodity prices as well as a drop in investment flows to poorer countries. The report's authors - Kevin Watkins and Patrick Montjourides - estimate this will cost sub-Saharan Africa's poorest people $18bn (£12.8bn), or $46 per person.