The novel coronavirus pandemic might have driven up to 100 million people into extreme poverty, World Bank (WB) President David Malpass warned yesterday.
The Washington-based development agency noted that unemployment, especially among young people, is rising, a trend confirmed by the International Labour Organisation (ILO) and the Asian Development Bank (ADB).
Previously, the WB had estimated that 60 million people would become poor because of COVID-19, but as the pandemic grows a new estimate puts the deterioration at 70 to 100 million. For Malpass, the number could go higher" if the pandemic drags on.
