The coronavirus pandemic could push an additional 150 million people into poverty by the end of 2021, The World Bank said Tuesday.
Global poverty levels had been decreasing for over 20 years prior to the pandemic, according to a World Bank press release. But a combination of the coronavirus pandemic, violent conflict and climate change appear to have reversed that progress.
By the end of 2020, the coronavirus pandemic alone is expected to push between 88 million and 115 million additional people into ‘extreme poverty,’ which is defined as living on less than $1.90 per day. By the end of 2021, that total could increase to 150 million, the 2020 World Bank Poverty and Shared Prosperity report found. (RELATED: Report: Trump To Announce 2nd Task Force Focused On Economic Recovery)
Main threats to poverty reduction:
????#COVID19 is expected to push up to 115 million people into extreme poverty in 2020
????Conflict has displaced almost 80 million people
????Climate change will drive between 68 and 132 million into poverty by 2030https://t.co/8Qj6UJwdmg
— World Bank (@WorldBank) October 7, 2020