World Bank says 60 million people will fall into extreme poverty due to Covid-19

The World Bank is warning that 60 million people will end up in extreme poverty due to the Coronavirus.

If this happens, it means that all the progress over the last three years to reduce poverty will have been in vain.

This was stated by the President of the World Bank David Malpass, who said that the bank is expecting global economic growth to go down by 5% this year.

He said that millions of people are losing their livelihood and the health systems are under pressure.

For the World Bank, people in extreme poverty are those who earn less than €1.74 daily.

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