Poverty and shared Prosperity 2020: Reversals of Fortune
Part of: GS Prelims and GS-I – Social issues
- 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
- 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.