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Poverty and shared Prosperity 2020: Reversals of Fortune

  • IASbaba
  • October 9, 2020
  • 0
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Poverty and shared Prosperity 2020: Reversals of Fortune

Part of: GS Prelims and GS-I – Social issues

In news

  • Recently, Poverty and Shared Prosperity Report was released. 
  • Released by: The World Bank biennially
  • According to the report, Global extreme poverty is expected to rise for the first time in 20 years because of the disruption caused by COVID-1

Key takeaways 

  • The report provides the latest and most accurate estimates on trends in global poverty and shared prosperity.
  • For more than two decades, extreme poverty was steadily declining. 
  • Now, for the first time in a generation, the quest to end poverty has suffered its worst setback.
  • The pandemic may push another 88 million to 115 million into extreme poverty or having to live on less than $1.50 per day. 
  • Some 9.1% to 9.4% of the world will be affected by extreme poverty in 2020.

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