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The COVID-19 pandemic will bring tens of millions of people to extreme poverty

The coronavirus pandemic hit the global economy badly — 60 million people could end up in extreme poverty. This statement was made by World Bank President David Malpass in an interview with BBC Radio 4.

“Due to the activity of coronavirus, 60 million people may be in“ extreme poverty. ” The immediate effects of income loss, as well as the medical and social consequences, are really serious,” Malpass said.

According to him, more than 60 million people may be in a situation where they have to live on less than 1 pound a day.

The World Bank President noted that the coronavirus pandemic is a “harmful blow” to the global economy. This will affect billions of incomes. The economic consequences of the coronavirus crisis can last for decades.

We add that the World Bank defines “extreme poverty” as a condition if a person lives on less than 1.90 US dollars (1.55 pounds) per day.

Recall, it was previously reported that G20 countries invest more than $5 trillion in the global economy to overcome the financial consequences of the coronavirus pandemic.

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