Coronavirus could drive half a billion people into poverty worldwide, warns Oxfam

[applegrove]

Coronavirus could drive half a billion people into poverty worldwide, warns Oxfam

Text by:NEWS WIRES

|https://www.france24.com/en/20200409-oxfam-world-bank-poverty-coronavirus-imf-world-bank-epidemic

Video by:Stephen CarrollFollow

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The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said 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.

"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.

The report authors played through a number of scenarios, taking into account the World Bank's various poverty lines - from extreme poverty, defined as living on $1.90 a day or less, to higher poverty lines of living on less than $5.50 a day.

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[2naSalit]

1. Besides the

three or four billion who are already there?

[denem]

2. World Bank - 2011 Purchasing Power Parity

[applegrove]

3. Yes. It was getting better for people.Slowly. but every bit of income

means so much.

[duforsure]

4. While trump and Moscow Mitch drive us into a depression.

And trump desperately claims the economy is good. We've heard that lie before when W Bush claimed it too while it was cratering. They're mistakes now will put us into a depression.By them underfunding direct payments to the American people , having interest rates so low, and desperately trying to keep the markets propped up, all a ruse which is ready to collapse . Trump and the GOP will devastate our economy, our country and the poor and the middle class, while claiming their greatness. This will not stop until they are gone and out of power.