The impacts of the financial crisis extends to the next decade

A recent report released by the World Bank and the International Monetary Fund mentioned that the international financial crisis has slowed down efforts to reduce poverty in developing countries, and its effects will extend to the next decade and beyond.

"The Global Monitoring Report for 2010 entitled: The Millennium Development Goals after the crisis" mentioned that the global crisis has affected a number of key areas of the Millennium Development Goals, including those related to hunger, child mortality, gender equality, access to clean water, and disease control, and it will continue to impact on the development prospects on the long run until 2015.

As a result of the global crisis, 53 million people will fall in extreme poverty until 2015.

Moreover, the report, which was published on the website of the World Bank, predicted that the total number of people suffering from extreme poverty will become about 920 million people in five years from now.

The report ruled out the possibility of success in achieving the crucial goal of development and reducing the proportion of people who suffer from hunger by half during the period from 1990 to 2015, where more than a billion people are suffering extreme difficulties to meet their basic food needs.

It is noteworthy that the crisis of rising food prices and the financial crisis which rose up in 2008 played a role in exacerbating hunger in the developing countries.

The report stated that more than one million children under the age of five could die between 2009 and 2015 due to the effects of the financial crisis.