Corona Pushes 100 Million People Into Extreme Poverty

The World Bank revealed that between 88 million and 114 million people around the world have become extremely poor, according to estimates issued by the Bank every two years, which indicate the level of global poverty.

According to the report published by the American Wall Street Journal, these numbers are the largest increase in extreme poverty rates since 1990, when the bank began recording and storing data.

These figures are a watershed and mark the end of a series of declines in extreme poverty rates that have continued for more than two decades.

According to the measure adopted by the bank, extreme poverty includes people who live on less than two US dollars a day, or about 700 dollars a year, and the World Bank estimates that between 703 million and 729 million people around the world now live in extreme poverty, and that the number has increased. It will increase further in 2021.

This is the worst setback we have seen in a generation, according to the report, Carolina Sanchez Paramo, a World Bank official, said that even during the global financial crisis in 2008 when the world was in recession, the number of people living in extreme poverty was decreasing, but the effects of the Corona pandemic proved to be More widespread and severe.

Before the epidemic, extreme poverty was limited to groups living in the countryside who were uneducated, and most of them worked in agriculture. However, after the epidemic, extreme poverty became inclusive of educated groups living in cities.

 

Source: Alqabas

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