The 2008 financial crisis rocked the world, affecting the poor more than most. This year alone, some 64 million people will see their salaries slide below $1.25 a day, the World Bank estimates. Another 40 million will go hungry 鈥� lots of critical development budgets will starve, too.
鈥淲hat the financial crisis most certainly did, is it knocked so many countries sideways,鈥� says World Bank spokesman Phil Hay.
But there's a silver lining.
The crisis cast a harsh, critical light down the halls of governments, disabusing autocrats of their delusions of competence, says Liesbet Steer of the London-based Overseas Development Institute.
鈥淭here is definitely a consensus that the crisis affected the world鈥檚 poorest the most,鈥� she says. 鈥淏ut there鈥檚 also a consensus now that with good governance, and good poverty reduction targets, a crisis can be offset, and nations can be resilient.鈥�
