Effort to reduce poverty falters

  • 26/04/1999

  • Financial Times (London)

Emerging market financial crisis, uncertain prospects for the former Soviet economies and the spread of HIV/AIDS in Africa mean that progress towards human development is in danger of stalling after a generation of improvement, the World Bank warned. Publishing its annual compendium of World Development Indicators, the Bank predicted that financial crises "could reverse the gains of many people who had previously migrated from poverty to the ranks of the middle class in the worst affected crisis countries".