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Oxfam - The Impact of the Global Economic Crisis on the Budgets of Low-Income Countries

The Impact of the Global Economic Crisis ReportThis report examines the impact of the global financial crisis on the budgets of low income countries, especially their spending to reach the Millennium Development Goals. It finds that the crisis created a US$65 billion budget revenue gap, which countries offset by borrowing and some grants, allowing them to stimulate their economies in 2009 to combat the crisis. However, in 2010 and 2011, there are risks that spending would fall and take countries further off track from the MDGs. It recommends actions for the IMF, the donor community and LIC governments to accelerate MDG spending.

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