Report: COVID-19 Pushes 30 Million Africans into Extreme Poverty
By Chukwuma Muanya
The novel Coronavirus has pushed some 30 million people in Sub-Saharan Africa into extreme poverty and dwarfed more than five years of progress, according to a report released, yesterday, at the ongoing Bloomberg New Economy Forum in Singapore.
The Bloomberg Economics Special Report, titled, “Long COVID: Jobs, Prices and Growth in the Enduring Pandemic,” noted that while some grounds would have been covered, as economies across the continent recover, the development remained insufficient to meet the United Nations Sustainable Development Goal (SDG) of eradicating poverty by 2030 – an existing target before the outbreak of the virus.
The document speaks to the challenges of the COVID-19 pandemic to growth, inflation and development globally.
Photo courtesy of Dominic Chavez/World Bank.