POVERTY AND SHARED PROSPERITY 2020: REVERSALS OF FORTUNE
Oct. 8, 2020
Global extreme poverty is expected to rise for the first time in 20 years because of the disruption caused by COVID-19, the World Bank said in its biennial Poverty and Shared Prosperity Report.
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The Poverty and Shared Prosperity series of report by World bank provides the latest and most accurate estimates on trends in global poverty and shared prosperity.
For more than two decades, extreme poverty was steadily declining. Now, for the first time in a generation, the quest to end poverty has suffered its worst setback.
‘Poverty and Shared Prosperity 2020: Reversals of Fortune’ presents new estimates of COVID-19’s impacts on global poverty and inequality.
The pandemic may push another 88 million to 115 million into extreme poverty or having to live on less than $1.50 per day, resulting in a total of 150 million such individuals.
Some 9.1% to 9.4% of the world will be affected by extreme poverty in 2020.
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