Poverty and Shared Prosperity Report
- Posted By
11th Oct, 2020
- It is a biennial report of the World Bank.
- It provides a global audience with the latest and most accurate estimates on trends in global poverty and shared prosperity.
- Key findings in the latest report: Global extreme poverty is expected to rise for the first time in 20 years because of the disruption caused by COVID-19.
- This will exacerbate the impact of conflict and climate change, which were already slowing down poverty reduction.
- The pandemic may push another 88 million to 115 million into extreme poverty or having to live on less than $1.50 per day, resulting in a total of 150 million such individuals.
- Worst affected regions: Many in middle income countries (MICs) will slip below the poverty line.
- Sub-Saharan Africa and South Asia, will be badly hit.