The World Bank Predicts COVID-19 Will Cause Extreme Poverty

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Yosepha Pusparisa 11/06/2020 13:00 WIB

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The World Bank estimates that the Covid-19 pandemic pushed tens of millions of people into extreme poverty. The highest number of people globally in extreme poverty occurred in June 2021 (worst-case s

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The World Bank Predicts COVID-19 Will Cause Extreme Poverty

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Global Extreme Poverty Prediction

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The World Bank estimates that the Covid-19 pandemic pushed tens to hundreds of millions of people into extreme poverty. Since last April, the pandemic's epicenter has shifted from Europe and North America to the southern hemisphere. This has increased the death toll in low- and middle-income countries due to prolonged lockdowns and increased pandemic-related expenditures.

The World Bank provides predictions of global extreme poverty from before the pandemic, April to June (baseline and severe scenarios). The baseline scenario assumes the outbreak remains at a similar level to that already predicted, with activity recovering this year. Conversely, the severe scenario assumes a longer-lasting outbreak and continued lockdowns, leading to increased economic pressure.

The highest level of global extreme poverty occurred in June under the severe scenario, reaching 712 million people in June 2020. This is projected to increase to 719 million people in June 2021.

Editor : Safrezi Fitra

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."