By Cara Anna, AP — Wednesday 7 October 2020
Up to 150 million people could slip into extreme poverty, living on less than $1.90 a day, by late next year depending on how badly economies shrink during the COVID-19 pandemic, the World Bank said. The pandemic has abruptly halted years of progress against global extreme poverty, expected to rise this year for the first time in over two decades. World Bank president David Malpass said it threatens to worsen global inequality and make it “harder for countries to return to inclusive growth.” Most of the new extreme poor — more than 110 million — will be in South Asia and sub-Saharan Africa. Recovery could take a decade.