Special Event

Implications of the Financial Crisis for Developing Countries

Apr 30, 2009 - 12:00 pm to 02:00 pm UTC

Regional Commentators: Eugenio Diaz-Bonilla, Executive Director for Argentina and Haiti, Inter-American Development Bank; Stephen Mink, Lead Economist, Agriculture and Rural Development, World Bank

Chair: Joachim von Braun, Director General, IFPRI

Most of the attention around the unfolding global financial crisis is focusing on its causes as well as effects in the banking and broader finance sector, particularly among developed and leading emerging economies. However, in a globalized world economy, the crisis also has serious implications for developing economies, which are increasingly dependent on trade, foreign investment, and remittances to meet their economic growth and social needs. The panel will discuss the effects on trade by and investments in developing countries resulting from the global recession related to the financial crisis; the impact on future agricultural growth and poverty reduction; and the consequences for meeting the needs of the poor and vulnerable people. Perspectives from Africa, Asia, and Latin America will also be shared.