COVID-19 pushed 119-124 million into poverty: World Bank updates estimates

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published Published on Jan 12, 2021   modified Modified on Jan 13, 2021

-Down to Earth

The number of pandemic-induced new poor is forecast to rise to 143-163 million in 2021

The novel coronavirus disease (COVID-19) pandemic, which forced economies around the world to lock down last year, may have increased global poverty by 119 million-124 million, according to updated estimates by World Bank.

This includes the 31 million people who would have moved out of poverty (measured at the international poverty line of $1.90, or Rs 139.3 per day) in 2020 in the absence of the pandemic.

The estimates are based on the forecasts from the Global Economic Prospects (GEP) made by the international financial institution in January 2021.

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Down to Earth, 12 January, 2021,

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