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Nairobi, Kenya – The fallout from the coronavirus outbreak that has killed around 90,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam stated on Thursday.
The report released by the Nairobi-based charity ahead of next week’s International Monetary Fund (IMF)/World Bank annual meeting calculated the impact of the crisis on global poverty due to shrinking household incomes or consumption, FRANCE24 reported.
“The economic crisis that is rapidly unfolding is deeper than the 2008 global financial crisis,” the report found.
“The estimates show that, regardless of the scenario, global poverty could increase for the first time since 1990,” it said, adding that this could throw some countries back to poverty levels last seen some three decades ago.
Via ThePlanetaryArchives/BlackHorseMedia - San Francisco
