a minute agoWorld Bank: 150 million people may quickly fall into extreme poverty
Periskopi(6 years ago)
(6 years ago)Up to 150 million people could fall into extreme poverty, or survive on less than $1.90 a day, the World Bank announced in its harsh economic forecasts, depending on the extent of the contraction of economies from the Devvid-19 pandemic. Countries with large economies, on average, will get 82 per cent [...]
Countries with large economies, on average, will have 82 per cent of the new poor, including India, Nigeria and Indonesia.
Many of the people in extreme poverty are expected to be more educated urban residents, which means cities will be affected by poverty as much as rural areas.
The World Bank estimates that 110 million young people will be in southern Asia and sub-Saharan Africa.
Global uncertainty has unexpectedly halted several years of progress against poverty -- this index expected to rise this year for the first time in two decades. It also threatens to exacerbate inequality and make it more difficult to return countries to economic growth, according to World Bank President David Malpas.
Unemployment is increasing as those who had managed to save something now see how they're getting wasted.
Experts say recovery may take a decade, and this is a serious blow to people who had drawn themselves out of poverty for a better life. /tch
