The impact of financial crisis on education
The global financial crisis has provided a stark reminder of the realities of global interdependence. There is now a danger that, after a decade of encouraging progress, continued advancement towards the 2015 education goals will stall in the face of rising poverty, slower economic growth and mounting pressure on government budgets. Some of the world’s most vulnerable households are feeling the effects of a crisis that originated largely within the banking systems of a few countries in the developed world. Many low-income countries lack the fiscal space to protect vulnerable populations, and urgently need an international response which provides increased development assistance. Additionally, at the national level, investments in safety-net and social protection programmes can protect the poor from the worst effects of the crisis and enable children to pursue education.