April 10

Coronavirus Could Turn Back the Clock 30 Years on Global Poverty

By Kaamil Ahmed

Half a billion people could be pushed into poverty as economies around the world shrink because of the coronavirus outbreak, a new study has warned.

Poverty levels in developing countries could be set back by up to 30 years, research released by the United Nations University’s World Institute for Development Economics Research warned on Thursday.

“The impact will be quite devastating,” said co-author Andy Sumner, international development professor at King’s College London, who warned of a “poverty tsunami”.

“Covid could lead to a very large increase in global poverty, in fact it could send the world back 10 years and could send some regions back 30 years,” said Sumner.

Photo courtesy of Alison Wright.

Source: The Guardian (link opens in a new window)

global development, poverty alleviation