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Financial Turmoil Puts World’s Poor at Biggest Risk

October 16, 2008, 1:01 pm

Aid groups say the world’s most vulnerable people will become even more so due to the global financial crisis and the increasing strain it has put on agencies that have been able to help them in the past, reports the Associated Press.

Declining donations, rising food prices, and higher unemployment are combining to increase the number of people in need, the news agency reports. One major group facing cutbacks is World Vision.

“What we are going to do now is to issue an order to reduce spending, to delay recruitment, delay purchases of capital assets, etc., until we can see clearer how much our income has dropped,” Philippe Guiton, of World Vision, tells the news agency.

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