The impacts of the global financial crisis on poverty and income distribution in developing countries have proved difficult to track because real-time data are typically not available.
In Bangladesh and the Philippines, where the crisis has led to a slowdown but not a reversal in GDP growth, poverty is expected to decline at a slower pace due to the crisis. In 2010, the poverty rate is expected to be higher by 1.2 and 1.5 percentage points than what it would have been without the crisis in Bangladesh and the Philippines respectively, which translates to approximately 1.4 and 2 million additional poor. In Mexico, GDP actually contracted by nearly 7% in 2009 and is expected to grow by just 3% in 2010. As a result, poverty rate is projected to rise by nearly 4 percentage points between 2008 and 2010.
In Bangladesh and the Philippines, where the crisis has led to a slowdown but not a reversal in GDP growth, poverty is expected to decline at a slower pace due to the crisis. In 2010, the poverty rate is expected to be higher by 1.2 and 1.5 percentage points than what it would have been without the crisis in Bangladesh and the Philippines respectively, which translates to approximately 1.4 and 2 million additional poor. In Mexico, GDP actually contracted by nearly 7% in 2009 and is expected to grow by just 3% in 2010. As a result, poverty rate is projected to rise by nearly 4 percentage points between 2008 and 2010.
