Article Link: http://exchangepress.com/article/impact-of-the-global-economic-crisis-on-children-and-families/5021146/
“Despite emerging signs of recovery, children and women in many countries are likely to be severely affected by the overall impact of the economic crisis, and those already most vulnerable are likely to be the hardest hit. The most immediate impact is being felt through increasing unemployment in poor households, many of which were already facing unusually high food prices. These threats will be compounded where governments, facing tightening budgets, reduce expenditures on health and education, shifting the burden of service provision to these already struggling households.”This stark observation from the 2013 UNICEF report, Global and Economic Crisis and Recovery, echoes dire reports from Save the Children, Plan International, the World Bank, and Oxfam that were reviewed for this article. While the economic crisis has hit citizens of most developing nations hard, its impact on children and families in developing nations has been devastating.
Impact on Public Funding
The recent economic crisis had an immediate impact in the United States and Europe, spreading quickly to other developed countries. A report by Save the Children, A Chance to Grow, offers this economic outlook for developing countries:
“First, private capital flows will remain depressed. As European banks experience significant losses and need recapitalisation, developing countries reliant ...