"Disastrous the crisis for million people"

The global economic crisis could have a "disastrous" impact on health and school projects in the developing world unless rich nations spend a tiny fraction of stimulus measures to help the poor, said Marwan Muasher, the World Bank's senior vice president for external affairs. Although there are some signs in global markets the economic meltdown might be bottoming out poor nations were now starting to feel the worst of the crisis, he said. "Poor countries have been hit hard by a crisis that is not of their making and they don't have the fiscal space to deal with it because it comes hard on the heels of a severe food and energy crisis," Muasher told Reuters in an interview. The crisis has pushed 90 million more people into poverty worldwide, most of them in the developing world, and 30 million jobs have been lost, he said. Source: World Bank. By Ton.

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