{"id":55759,"date":"2020-05-20T22:18:45","date_gmt":"2020-05-20T20:18:45","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=55759"},"modified":"2020-07-26T11:04:47","modified_gmt":"2020-07-26T09:04:47","slug":"world-bank-pandemic-could-force-60-million-more-people-to-live-on-less-than-2-a-day","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/world-bank-pandemic-could-force-60-million-more-people-to-live-on-less-than-2-a-day\/","title":{"rendered":"World Bank: Pandemic could force 60 million more people to live on less than $2 a day"},"content":{"rendered":"<div class=\"el__leafmedia el__leafmedia--sourced-paragraph\">\n<p class=\"zn-body__paragraph speakable\" dir=\"ltr\" style=\"text-align: left;\">The\u00a0<a href=\"https:\/\/edition.cnn.com\/world\/live-news\/coronavirus-pandemic-05-20-20-intl\/h_c48826e23d37bffd0d4a2682b8ff08e2\" target=\"_blank\" rel=\"noopener noreferrer\">coronavirus pandemic<\/a>\u00a0could push as many as 60 million people into extreme poverty, the\u00a0<a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2020\/05\/19\/world-bank-group-100-countries-get-support-in-response-to-covid-19-coronavirus\" target=\"_blank\" rel=\"noopener noreferrer\">World Bank said on Tuesday<\/a>.<\/p>\n<\/div>\n<div class=\"zn-body__paragraph speakable\" dir=\"ltr\" style=\"text-align: left;\">The warning suggests deepening pessimism among economists about the scale and duration of the fallout from what the bank described as an &#8220;unprecedented crisis.&#8221;<\/div>\n<div dir=\"ltr\"><\/div>\n<div class=\"zn-body__paragraph speakable\" dir=\"ltr\" style=\"text-align: left;\">The World Bank, which provides loans and grants to the governments of poorer countries,\u00a0<a href=\"https:\/\/blogs.worldbank.org\/opendata\/impact-covid-19-coronavirus-global-poverty-why-sub-saharan-africa-might-be-region-hardest\" target=\"_blank\" rel=\"noopener noreferrer\">predicted<\/a>\u00a0a month ago that this year would mark a historic step back for inequality, with the pandemic &#8220;likely to cause the first increase in global poverty since 1998.&#8221;<\/div>\n<div dir=\"ltr\"><\/div>\n<div class=\"zn-body__paragraph\" dir=\"ltr\" style=\"text-align: left;\">It said in a blog post on April 20 that its &#8220;<a href=\"https:\/\/blogs.worldbank.org\/opendata\/impact-covid-19-coronavirus-global-poverty-why-sub-saharan-africa-might-be-region-hardest\" target=\"_blank\" rel=\"noopener noreferrer\">best estimate&#8221;\u00a0<\/a>was that 49 million people would be forced into extreme poverty, which the bank defines as having to live on less than $1.90 per day.<\/div>\n<div dir=\"ltr\"><\/div>\n<div class=\"zn-body__paragraph\" dir=\"ltr\" style=\"text-align: left;\">The worsening outlook is due to the outbreak shutting down economic activity and &#8220;erasing much of the recent progress made in poverty alleviation,&#8221; World Bank President David Malpass said in a statement.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">A recent surge of cases in some countries is also forcing the bank to deploy what it considers to be its &#8220;largest and fastest crisis response&#8221; ever. It said its emergency relief efforts had already reached 100 developing countries, which are home to 70% of the world&#8217;s population.<\/div>\n<div><\/div>\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">The World Bank aims to help vulnerable communities by providing grants and loans to both individuals and businesses, as well as suspending debt payments for some of the world&#8217;s poorest countries. Overall, it has pledged at least\u00a0<a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2020\/05\/19\/world-bank-group-100-countries-get-support-in-response-to-covid-19-coronavirus\" target=\"_blank\" rel=\"noopener noreferrer\">$160 billion<\/a>\u00a0to combat the virus so far.<\/div>\n<div><\/div>\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">Some of the world&#8217;s poorest people are already starting to feel the pain.<\/div>\n<div><\/div>\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">Migrant workers across the globe have been losing their jobs as the pandemic stops work in various industries. As a result, the World Bank estimates that global remittances, or money sent home to families,\u00a0<a href=\"https:\/\/www.cnn.com\/2020\/05\/17\/business\/global-remittances-coronavirus-intl-hnk\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">could drop<\/a>\u00a0by 20%, or about $100 billion, this year.<\/div>\n<div><\/div>\n<div>\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">Tens of millions of people in Africa may become destitute as a result of the crisis, human rights chiefs warned Wednesday.<\/div>\n<div><\/div>\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">&#8220;We cannot afford to stand idly by and hope this most viral and deadly of diseases bypasses Africa, which is home to many of the world&#8217;s poorest countries who are simply not in position to handle such a pandemic,&#8221; UN High Commissioner for Human Rights Michelle Bachelet and Chairperson of the African Commission on Human and Peoples&#8217; Rights Solomon Dersso said in a joint statement.<\/div>\n<div><\/div>\n<div>\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">The World Bank<strong>\u00a0<\/strong>said last month that it expected people in sub-Saharan Africa would suffer the most. Currently, 39 of the World Bank&#8217;s 100 target countries are there, and at least 23 million residents of the region\u00a0<a href=\"https:\/\/blogs.worldbank.org\/opendata\/impact-covid-19-coronavirus-global-poverty-why-sub-saharan-africa-might-be-region-hardest\" target=\"_blank\" rel=\"noopener noreferrer\">are projected<\/a>\u00a0to be heading for extreme<strong>\u00a0<\/strong>poverty because of the coronavirus outbreak.<\/div>\n<div><\/div>\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">South Asia is also likely to suffer. In addition to Nigeria and the Democratic Republic of Congo, World Bank economists\u00a0<a href=\"https:\/\/blogs.worldbank.org\/opendata\/impact-covid-19-coronavirus-global-poverty-why-sub-saharan-africa-might-be-region-hardest\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a>\u00a0last month that India,\u00a0<a href=\"https:\/\/www.cnn.com\/2019\/06\/19\/health\/india-china-world-population-intl-hnk\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">one of the world&#8217;s most populous countries<\/a>, was estimated to see &#8220;the largest change in the number of poor,&#8221; with about 12 million affected.<\/div>\n<div><\/div>\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">&#8220;The places where the virus is taking its highest toll depends primarily on two factors,&#8221; analysts at the bank wrote in a\u00a0<a href=\"https:\/\/blogs.worldbank.org\/opendata\/impact-covid-19-coronavirus-global-poverty-why-sub-saharan-africa-might-be-region-hardest\" target=\"_blank\" rel=\"noopener noreferrer\">blog post<\/a>.<\/div>\n<div><\/div>\n<div class=\"zn-body__paragraph\" style=\"text-align: left;\">&#8220;The impact of the virus on economic activity and &#8230; the number of people living close to the international poverty line.&#8221;<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0coronavirus pandemic\u00a0could push as many as 60 million people into extreme poverty, the\u00a0World Bank said on Tuesday. The warning suggests deepening pessimism among economists about the scale and duration of the fallout from what the bank described as an &#8220;unprecedented crisis.&#8221; The World Bank, which provides loans and grants to the governments of poorer countries,\u00a0predicted\u00a0a [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":55764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6030,6034],"tags":[6385,8202,6739],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>World Bank: Pandemic could force 60 million more people to live on less than $2 a day - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The\u00a0coronavirus pandemic\u00a0could push as many as 60 million people into extreme poverty, the\u00a0World Bank said on Tuesday.The warning deepening pessimism .&quot;\" \/>\n<meta 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