Coronavirus pushes 3 million people in MENA to extreme poverty: World Bank

SourceAhram
SectorEconomy
CountryGCC

Three million more people are projected to be in extreme poverty in the Middle East and North Africa (MENA) due to the COVID-19 crisis, said the World Bank (WB). In its recent report on poverty and shared prosperity, published as part of the WB and the International Monetary Fund (IMF) annual meetings, the WB said that for the first time since 1988, when it started tracking extreme poverty across the globe, the rate of poverty has increased significantly. In 2020, 88 million to 115 million people are pushed into extreme poverty, bringing the total to 729 million, according to the report. Prior to the onset of the COVID-19, MENA was the only region in the world where extreme poverty was increasing, due to conflicts in Yemen, Libya and ...read more...