According to the World Bank, the global goal of ending extreme poverty by the year 2030, as stated in the Sustainable Development Goals established in 2015 by the United Nations General Assembly, will not be achieved.
According to the international organization’s justification, the delay was one of the numerous effects of the Covid epidemic, which has been linked to the worst increase in poverty since 1990 and could be furthered by the Ukraine situation.
According to World Bank President David Malpass, “our concerns derive from high rates of extreme poverty, diminishing wealth-sharing due to inflation, currency depreciation, and interlocking crises.”
The bank estimates that approximately 70 million people will experience extreme poverty in 2020 and that by the end of the year, 720 million people will be subsisting on less than $2 per day.
The Corona pandemic caused the poorest 40% of the poor to see their income decrease at a pace twice as fast as the richest 20%, which set a precedent in recent decades and increased de facto inequality.
Endermit Gale, the chief economist for the World Bank, stated that increasing health care and education will be crucial for emerging economies during the coming ten years (…
) in light of record debt and scarce financial resources, and it “will not be simple,” he continued.
Author: “AFP.”
According to the World Bank, extreme poverty will not be eradicated by the target date.
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