COVID-19 CRISIS COULD CAUSE THE NUMBER OF EXTREME POOR RISE TO 1.1 BILLION GLOBALLY

Not a single person in the whole wide world had thought that this virus could make destruction in this huge amount. People are migrating from city to villages due to poverty. Millions of people are suffering from day to day because of Covid -19. In just a few months covid-19 has evacuated a vastly negative effect.

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According to researchers said in a report on Friday, the economic spin-off due to the coronavirus pandemic could shove an extra 395 million people into extreme poverty and expand the total number of those living on less than $1.90 a day which is 144.36 a day worldwide to more than 1 billion(10 lakhs).

The report, published by UNU-WIDER which is a part of the United Nations University, played through a variety of scenarios, taking under consideration the World Bank’s various poverty lines – from extreme poverty, defined as living on $1.90 each day or less, to higher poverty lines of living on but $5.50 a day.

Under the worst-case scenario – a 20% contraction in per capita income or consumption – the amount of these living in extreme poverty could rise to 1.12 billion. The same contraction applied to the $5.50 threshold among upper-middle-income countries could see quite 3.7 billion people – or just over half the world’s population – live below this poverty level.

An inter-disciplinary economist, Andy Sumner quoted that “The outlook for the worlds poorest looks grim unless governments do more and roll in the hay quickly and structure the daily loss of income the poor face,”.

“The result’s progress on poverty reduction might be set back 20-30 years and making the UN goal of ending poverty appears as if a dream.” The researchers from King’s College London and the Australian National University also found that poverty would shift in its geographic distribution.

The region expected to see the biggest number of people at risk of shoving into extreme poverty was South Asia, mainly driven by swarming India. This was followed by Sub-Saharan Africa where around a 3rd of the increase would come from.

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On Monday, the planet Bank said it expected 70-100 million people to be pushed into extreme poverty by the pandemic. This pandemic is not only causing deaths but also harming the economy across the world.

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