NEWS

World Bank Warns — Extreme Poverty Is In The Making

According to the World Bank, extreme poverty is set to rise for the first time since 1998.

The organization noted that the coronavirus pandemic is expected to throw over 115 million people on the heap of poverty.

Moreover, it noted that this could rise to over 150 million by 2021.

It also stated that the pandemic is compounding the forces of conflict and climate change, which were already slowing poverty reduction.

Extreme poverty is defined as living on less than US$1.90 a day.

The projected increase would be the first since 1998 when the Asian fiscal crisis shook the global economy.

According to the World Bank extreme poverty is set to rise for first time since 1998.

Readers Bureau, Contributor

Edited by Jesus Chan

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