150 Million people at risk of extreme poverty due to COVID, World Bank says - The National News

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Published by: THE NATIONAL NEWS on 7 Oct 2020
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The Covid-19 pandemic will push up to 150 million people into extreme poverty by 2021, hitting middle-income countries the hardest and reversing gains made in reducing poverty levels over the last two decades, the World Bank said. The crisis will push 88 million to 115 million people into extreme

poverty this year alone, depending on the severity of the global economic contraction, the World Bank said on Wednesday. This marks the first rise in worldwide extreme poverty – defined as living on less than $1.90 a day – since 1998.

These scenarios translate into a global poverty rate ranging between 9.1 per cent and 9.4 per cent in 2020 and between 8.9 per cent and 9.4 per cent in 2021, according to the World Bank.

Global poverty had dropped at a rate of around 1 percentage point per year between 1990 and 2015. However, the rate of reduction in poverty slowed between 2015 and 2017, data shows.

The projected poverty rates in 2020 are similar to those in 2017, indicating that [...]

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150 Million people at risk of extreme poverty due to COVID, World Bank says - The National News

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