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The International Monetary Fund says the global financial crisis is having a big impact on poor countries, and that it's essential that donor countries scale up support and not cut it back. It said poor countries were more exposed than in previous crisis because they were far more integrated into the global economy than before. The fund said it had identified 26 countries that were particularly vulnerable because of the collapse in commodity prices.
The IMF's Managing Director, Dominique Strauss-Kahn, said it is essential that aid donor countries should scale up support and not cut back. He said that at a time when they are spending hundreds of billions of dollars on stimulus and financial rescues , there must be more help for low-income countries. He said the crisis puts at risk recent hard-won gains in faster economic growth, lower poverty and greater political stability. He said the IMF has already increased its support to low-income countries in the last year, and is ready to provide more.
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