The Global Economic Crisis Gemma Owens Think Global Initiative Project Coordinator International Federation of Medical Students’ Associations (IFMSA)

Presentation The MDGs – How far have we got? The impact of the financial crisis The impact on the MDGs The next step

The MDGs – How far have we got? Extreme poverty – down by 320 million since 2000 Child mortality - 3 million fewer deaths Education - 28 million more children in school Clean water – access improving Aid – Up from around $70 to $104bn

....But! Most countries are off track for most targets Child mortality – ‘2 million death deficit’ by 2015 Nearly 1 billion children malnourished Rising food and energy costs: – pushing another 125 million into extreme poverty in 2007 (WFP 2008) – deepening poverty levels (World Bank 2009) – increasing child malnutrition by 44 million (2006/2008) Donors back-tracking on aid commitments – aid fell by 8% in 2007 (OECD 2008)

The impact of the financial crisis Parental unemployment Reduced expenditure – including essentials (food, water, etc). Loss of housing Children drop out of school Increased child labour Selling of productive assets Food: – Lower quality food- Reduced intake – Malnutrition- Starvation Health consequences: – Decreased immunity to disease – Micronutrient deficiencies  night blindness, anaemia, increased morbidity

The impact on the MDGs Started in US financial market – but hitting the 80% of humanity in developing countries – has implications for all MDGs Direct Effects: – Predicted to cost sub-Saharan Africa around 18 billion USD. – Child mortality rate could increase by 200, ,000 (child malnutrition will be one of the main drivers).

The impact on the MDGs Indirect: – Low-income countries which have made progress towards universal primary education will suffer setbacks. – Aid development assistance budgets within donor countries are also under increased strain. – The EU’s aid commitment to provide 0.56 per cent of GDP in aid by 2010 is rapidly losing value with lower growth projections. – The real financial value of the commitment in 2010 will be $4.6 billion lower.

The Next Step Health needs to be a priority Promote a greater focus on social justice Monitor the ACTUAL impact of the crisis Policy actions need to ensure social safety nets Developed countries need to affirm and deliver on 2005 commitments Avoid multiple ‘innovations’ and fragmented delivery – all the actors involved in global health need to work in partnership

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