|AUTHOR||Social Policy and Economic Analysis Section|
|ORGANIZATION||UNICEF Regional Office for East Asia and the Pacific|
|TOPIC||Economic crisis and recovery|
The impact of the global food, fuel and economic crises on the East Asia and the Pacific has been swift and severe. The lack of uniformity between countries in this region has meant that each has been affected in varying degrees by the different crises. Middle income and export oriented countries like Malaysia and Thailand are most hurt by the economic crisis whereas the impact of the food price crisis has arguably been greater in Low-Income Countries like Cambodia and Lao PDR. Countries like DPRK and Myanmar face their own unique set of challenges and PNG and the Pacific Island Countries are more affected by the fuel crises and the indirect impact of the economic crisis. But regardless of which crisis has affected each individual country the most, the cumulative impact of all crises has been immense in the region. As purchasing power of the poor and vulnerable has been further squeezed by these exogenous shocks, they are also taking an alarming social toll. Effects on the mental and physical development of children may be permanent and could stall or reverse years of progress towards the achievement of a number of Millennium Development Goals (MDGs).