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SINGAPORE: As the world economies grapple with the financial turmoil, a group of humanitarian experts said children will be a vulnerable group affected by the crisis.
If their needs are not addressed, it could lead to health and developmental problems.
The rise in oil prices, the bankruptcy of financial giants and the volatile stock markets, all have had its domino effect on the world.
Adding to the crisis is higher inflation. The International Monetary Fund (IMF) estimates that a 10 per cent rise in food prices will push another 105 million people into poverty.
Based on data collected during the 1997 Asian financial crisis, experts have also found a 10 per cent increase in underweight babies. Infant mortality was up between three and 10 per cent. Anaemia among pregnant women also rose by 10 per cent.
To help reverse this trend, about 150 policy makers, academics and government officials from East Asia and Pacific countries have gathered in Singapore to explore the issues confronting the children of the world.
Experts at this conference believe there are three key issues developing nations need to address in helping children.
First, is making sure money is available. Second, allocating the funds and third, the effective delivery of money where it is needed most.
Community Development, Youth and Sports Minister, Vivian Balakrishnan, said: "We need to be committed to ensuring that all our policies are child-centric. The value or the impact of a policy ultimately is not how intellectually robust or how elegantly it's been presented, but its impact on real people and in our case, real children."
While Singapore is not shielded from the global turmoil, its young population may be the luckiest lot.
Kishore Mahbubani, Dean, Lee Kuan Yew School of Public Policy, National University of Singapore, said: "Children in Singapore may be among the most fortunate.
"When I served as ambassador to the UN in 1984 to 1989, Jim Grant, the Head of UNICEF, said to me 'Kishore, you should stop talking about your economic growth in Singapore because it's not your real success story.
"The real success story of Singapore is that you have reduced your infant mortality rate faster than any country in human history ever.'"
While experts are still assessing the impact of the current economic crisis on children, delegates hope their discussions will pave the way for a sustainable solution. - CNA/vm
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