Sadly, many of the most economically depressed parts of the world stand to see tens of millions of more people slip into extreme poverty, a new World Bank study says.
The new figures are even worse than a previous World Bank analysis, published in April, that projected the COVID-19 crisis would push about 50 million people into extreme poverty.
Whether the total ends up being 50 million or 100 million, the surge in extreme global poverty would be the first increase since 1998.
Some might argue 100 million people pushed into extreme poverty is simply collateral damage in the greater war against COVID-19.
The World Bank is careful to say the economic fallout stems from the “COVID crisis,” but that’s a bit euphemistic.