Some of the latest economic and poverty data from international institution, the World Bank, shows that “desperate inequality” is being caused by the Covid-19 pandemic and the subsequent economic shutdowns, which have led to recessions in various countries. While the recessions in advanced economies are less severe than what had been feared, in most developing countries is has become a depression, especially for the poorest, where, globally, extreme poverty may rise by 150-million as early as 2021.
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