As of this month, over a million people have lost their lives to COVID-19. More than 35 million are infected. In every part of the world, the poorest are suffering most, and the World Bank’s recently released Poverty and Shared Prosperity Report estimates that global extreme poverty will rise this year for the first time in a generation. In 2020 alone, the pandemic could drastically increase the number of people living in extreme poverty, by 88 to 115 million. This is the worst setback ever in our quest to end poverty.  Furthermore, the impact of COVID-19 is not just affecting the extreme poor, but lockdowns and sudden cessations of economic activity and mobility have had a broader impact than previous crises. The faces of the “new poor” are more likely to be urban and educated and to be engaged in informal services and manufacturing, rather than agriculture; and middle-income countries will be significantly affected.  Women are also more impacted, as they are twice as likely to lose their jobs compared to men. They also bear the brunt of family care under lockdown, and many are “skipping meals” as a response to reduced incomes.

Continue reading →