As the new year brings some hope for the fight against COVID-19, we are looking back and taking stock of the effect of the pandemic on poverty in 2020. In October 2020, using the June vintage of growth forecasts from the Global Economic Prospects, we estimated that between 88 and 115 million people around the globe would be pushed into extreme poverty in 2020. Using the January 2021 forecasts from GEP, we now expect the COVID-19-induced new poor in 2020 to rise to between 119 and 124 million. This range of estimates is in line with other estimates based on alternative recent growth forecasts.
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