The prospects for progress in low-income countries in thewake of the crisisInvitation to a seminar with Justin Yifu Lin, Chief Economist and SeniorVice President of the World Bank.Date: 18 January 2010, 13.00-14.45Venue: Eigtveds Pakhus, Asiatisk Plads 2 G, 1448 Copenhagen KHost: Ib Petersen, Director for Development Policy, Ministry of Foreign Affairs

Background

Many of the World’s poorest countries have made significant progress over the last decade in combatingpoverty and improving the conditions for economic growth. Per capita income in low-income countries,which fell during the 1980s and 1990s, grew by 3.2 percent a year in the period 2001-2007, and netprivate capital flows grew from 1.2 percent in 2000 to 7.4 percent of GDP in 2007. At the same time,many low-income countries have made considerable progress towards attaining the MDGs.However, the global financial and economic crisis illustrated that such gains were not irreversible. Fallingglobal demand, FDI and employment –combined with the effects of the food and fuel crises – thwartedinitial hopes that low-income countries could be insulated from the consequences of the global recession.Indeed, the World Bank estimates that the crisis is likely to result in another 89 million people living inextreme poverty (under $ 1.25 a day) by the end of 2010, in addition to negative effects on the provisionof basic social service. At a time where the global economy is showing signs of a recovery, indications arethat low-income countries may be facing a long and difficult recovery.How has the crisis affected the achievements of the last decade, and what are the prospects for regainingthe momentum? What should be the priorities of governments in low-income countries, and what canexternal partners do to help? How can gainful employment be secured for a rapidly growing number oflabor market entrants in the coming years?These are some of the pressing questions which will be addresses by Chief Economist and Senior VicePresident, Mr. Justin Yifu Lin, based on his analysis of recent research and data generated by the WorldBank and others. Short interventions will be made by Ib Petersen, Director for Development Policy, andother representatives of the Ministry of Foreign Affairs on the thinking and work of Danida relevant to theissues, and participants will be invited to comment and respond.

Practical information

The seminar will be held in English. Participation is free of charge but registration is required due to thelimited number of seats. Please register by sending name and contact information to[email protected]nolater than 14 January 2010 COB. Practical questions may be addressed to Inger Blomstrand Sørensen(ph: +45 33920909).