UN: 12 November 2008 – The current financial turmoil, exposing the high level of interdependence among countries, could threaten to derail the momentum towards improving global health, the head of the United Nations World Health Organization (WHO) warned today.
“It is not yet clear what the current financial crisis will mean for low-income and emerging economies, but many predictions are highly pessimistic,” Director-General Margaret Chan said in a statement. “In the face of a global recession, fiscal pressures in affluent countries may prompt cuts to official development assistance.”
Further, the spectre looms of poorer nations potentially slashing social spending in areas such as health, education and social protection, she cautioned.
The current crisis comes amid efforts to reach the Millennium Development Goals (MDGs), eight anti-poverty targets with a 2015 deadline, which Dr. Chan characterized as “the most ambitious drive in history.”