Global economic crisis

The present world economic crisis which originated in the so-called First World, to be exact in the United States of America, in the third quarter of 2008, has swept across the globe and engulfed not only the developed countries but also spread its tentacles to the Third World. No country has been spared and no country would be spared.

The Global Monitoring Report 2009 published by the IMF/World Bank projects a rise this year in the number of extreme poor in half of all developing countries, and in three quarters of Sub-Saharan Africa. Fifty five to 90 million more people could be trapped in extreme poverty as a result of the crisis.

In addition, over a billion people will be chronically hungry in 2009, reversing gains in the fight against malnutrition, endangering pregnant women and their babies, and stunting the development of young children.

The crisis will also set back progress made in educating poor children-especially girls. Health repercussions will be the gravest, with slowed or halted progress in fighting HIV/AIDS, malaria and other deadly diseases.

Growth in developing countries in 2009 is now projected to be only 1.6 percent, which is only about a quarter of what was projected just before the crisis and this implies declining per capita income in more than 50 developing countries in 2009.

In the light of these developments, it is highly improbable that the commitment of the world leaders at their Millennium Summit in the year 2000 to halve the world’s poor and to other Millennium Development Goals (MDGs) could be kept.

With shrinking exports and remittances the developing world will be hardly able to meet its development goals. Growth in developing countries in 2009 is now projected to be only 1.6 percent, which is only about a quarter of what was projected just before the crisis and this implies declining per capita income in more than 50 developing countries in 2009.

New methods and new policies are needed to meet the new challenges imposed by the world economic crisis. Needless to say that emphasis should be on agricultural development for many developing countries, if they are to avert starvation due to the developing global food crisis.

Regrettably the developed countries, whose policies of neoliberal globalization have led to the present crisis, do not seem committed to their MDG pledges.

International aid to developing countries only reaches 120 billion dollars. Considering the requirements it is only a drop in the ocean. On the other hand, they have committed over US $ 11.6 trillion to bail out bankers and industrialists.

This forces the developing countries to seek more South- South Cooperation and regional integration as a way out of the present crisis. It also calls for more prudent economic planning, less waste, good governance and self-reliance, development of indigenous technology in those sectors that are traditionally strong.

What is more important is commitment by the people, their dedication and hard wok which have proved their usefulness in many a country.

Swine flu

The Health Ministry has made a timely move to prevent the deadly swine flu now sweeping the US and Mexico from entering Sri Lanka. Similar measures were taken earlier too when epidemics such as bird flu and Ebola were threatening this part of the world. However, that threat passed over with no cases reported in Sri Lanka.

Already, orders have gone out to monitor passengers arriving from the US and Mexico at the BIA and harbour.

According to our front page story today, over 100 people had died from swine flu in Mexico last week and WHO has warned of the possibility of Swine flu becoming a global threat.

The Ministry should also take steps to upgrade our quarantine services since there have been instances of those carrying the virus escaping undetected.

The Health Ministry should also place more emphasis on preventive health in its bid to reduce instances of epidemics from spreading in the country. We have had cases of rat fever recently and the people thrown into a panic. Measures should be taken to educate people on the nature of disease and epidemics so that they would know what precautions to be taken.

This would also prevent overcrowding of hospitals and less strain on the medical staff.