Virus projected to increase global poverty

New forecasts from the World Bank anticipate a sharp global rise in extreme poverty – those living on less than $1.90 a day – due to the coronavirus pandemic, reversing a yearslong trend. The predictions, made in June, show higher totals than a previous estimate from April.

The baseline scenario assumes that the coronavirus outbreak remains at levels currently expected and that activity recovers later this year; the downside scenario assumes that outbreaks persist longer than expected, forcing lockdown measures to be maintained or reintroduced.
Source: World Bank
Associated Press