World Bank – Executive Digest says Govt-19 reverses decades of progress against extreme poverty

World Bank - Executive Digest says Govt-19 reverses decades of progress against extreme poverty

The World Bank has warned that two decades of progress in reducing extreme poverty have been delayed due to epidemics, growing climate emergencies and the economic freeze.

The International Monetary Fund (IMF) has already warned of a “truly unprecedented rise” in poverty levels this year, and experts warn of a growing crisis in many areas, from education to employment, which will be felt in the coming years.

Although the World Bank was already pessimistic, in January it predicted the most recent number of poor people in 2021. This number rose from 88 to 115 million and from 119 to 124 million.

Global poverty has been greatly reduced since the 1960s, when 80% of the world’s population lived in extreme poverty. Today, that number has been reduced by more than 10%, leaving hundreds of millions of people out of poverty.

However, the numbers are expected to increase with the outbreak. Not only people living below the poverty line of 1.6 euros a day, but also increases are seen. Between June last year and January 2021 there was a worrying increase in the number of people living below 7 2.7.

In recent months, the crisis has been highlighted in a number of reports analyzing indicators ranging from the exodus rate in developing countries to falling wages and rising unemployment. It is often caused by an epidemic that closes workplaces, schools and borders, paralyzing the world economy.

The International Labor Organization (ILO) has warned that working people worldwide during epidemics could earn an additional 3 3 billion.

In a report released late last year, the organization said wages had fallen in the first six months of 2020 or were growing slowly in all sectors.

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He warned that the epidemic crisis was “responsible for putting a great deal of downward pressure on wages in the future” and that “low-wage women and workers are proportionately affected by the crisis.”

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