The pandemic could push 150 million more people worldwide into ‘extreme poverty’

The pandemic could push 150 million more people worldwide into ‘extreme poverty’, by Clare Duffy.

An additional 88 to 115 million people could be pushed into extreme poverty, defined as living on less than $1.90 a day, in 2020 because of the pandemic and resulting economic recession, according to a report from the World Bank released Wednesday. …

The total number of people added to the world’s extreme poor as a result of the pandemic could grow to 150 million by next year. …

The group now expects extreme poverty to affect between 9.1% and 9.4% of the world’s population this year. Prior to the outbreak of coronavirus, the poverty rate was expected to drop to 7.9% in 2020. ….

About eight in 10 of those who will be pushed into extreme poverty this year live in what the World Bank calls “middle-income” countries: developing nations such as Brazil, Indonesia and South Africa that already have high poverty rates.