POVERTY

GLOBAL POVERTY CRISIS

• Prior to 2020, poverty level was on the decline- 10% percent of the world’s population or 734 million people lived on less than $1.90 a day. That’s down from nearly 36 percent or 1.9 billion people in 1990. However, that is

• The COVID-19 crisis will have a disproportionate impact on the poor, through job loss, loss of remittances, rising prices, and disruptions in services such as education and health care.

• The World Bank estimates that 40 million to 60 million people will fall into extreme poverty (under $1.90/day) in 2020, compared to 2019, as a result of COVID-19.

• The global extreme poverty rate could rise by 0.3 to 0.7 percentage points, to around 9 percent in 2020.

• The percentage of people living on less than $3.20 a day could rise by 0.3 to 1.7 percentage points, to 23 percent or higher, an increase of some 40 million to 150 million people.

• The percentage of people living on less than $5.50 a day could rise by 0.4 to 1.9 percentage points, to 42 percent or higher, an increase of around 70 million to 180 million people

• New researchestimates that by 2030 up to two-thirds of the global extreme poor may be living in fragile and conflict-affected economies, making it evident that without intensified action, the global poverty goals will not be met. 

SOURCE WORLDBANK- view more data here.