The World Bank (WB) this Wednesday downgraded its perspectives on the effect of the pandemic and warned that up to 115 million people may fall into extreme poverty in 2020 due to the crisis induced by Covid-19.
For the World Bank, extreme poverty – defined as those who live on less than 1.9 dollars a day – can increase in a range of between 88 million and up to 115 million people in the world, if the most negative forecast is confirmed.
“It will be analyzed that in 2020 global extreme poverty will increase for the first time in more than 20 years as a result of the disturbances caused by the Covid-19 pandemic,” warned the Bank’s economists.
The Washington-based agency’s forecasts have been getting worse as the pandemic progresses and its duration extends. Since its detection in China in December, the new coronavirus has killed more than a million people around the world and has hit the global economy hard.