-20% World GDP in Second Quarter Forces 500 Million Back into Extreme Poverty

The number of people living in poverty in the world could increase, in comparison to the status quo in 2018, by between 85–135 million under a 5 percent contraction, by between 180–280 million under a 10 percent contraction, and, startlingly, between 420–580 million people under a per capita income or consumption contraction of 20 percent.

This is from a UN Working Paper – “Estimates of the impact of COVID-19 on global poverty”.

A decade of progress against poverty could be wiped out.

The poverty will mainly be in South Saharan Africa and South Asia.

The COVID-19 pandemic is bad. However, there will likely be a lot more deaths from infant and maternal mortality, undernutrition and malnourishment, and educational achievement from a massive increase in global poverty. The severity of the effects will depend on how long the pandemic lasts, and on how the national governments and the international community reacts.