
Sunday with Eden | Aug 22,2020
The global pandemic is set to cause a disturbing slide to extreme poverty and inequality, leading over 90 million people across the world fall below 1.90 dollars daily income, the International Monetary Fund (IMF) warned.
The IMF released its flagship annual report, the World Economic Outlook, where it sees growth recovery from COVID-19 impact as "long and difficult ascent". The pandemic has compelled the IMF to hold its biannual meeting of central bank governors and finance ministers virtually, which begins this week. The IMF sees growth in global economy to shrink to negative 4.4pc in 2020, although its economists are upbeat in recovery for next year at 5.2pc.
"The persistent output losses imply a major setback to living standards relative to what was expected before the pandemic," the IMF said in its outlook. "Not only will the incidence of extreme poverty rise for the first time in over two decades, but inequality is set to increase because the crisis has disproportionately affected women, the informally employed, and those with relatively lower educational attainment."
PUBLISHED ON
Oct 13,2020 [ VOL
21 , NO
1068]
Sunday with Eden | Aug 22,2020
Radar | Jul 11,2021
Commentaries | Mar 27,2021
Radar | Sep 26,2021
Radar | Apr 02,2022
Agenda | Oct 24,2020
My Opinion | Oct 20,2024
Radar | Apr 03,2021
Viewpoints | Apr 08,2023
Radar | Dec 01,2024
Dec 22 , 2024 . By TIZITA SHEWAFERAW
Charged with transforming colossal state-owned enterprises into modern and competitiv...
Aug 18 , 2024 . By AKSAH ITALO
Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...
Jul 28 , 2024 . By TIZITA SHEWAFERAW
Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...
May 31 , 2025
It is seldom flattering to be bracketed with North Korea and Myanmar. Ironically, Eth...
May 24 , 2025
Public hospitals have fallen eerily quiet lately. Corridors once crowded with patient...
May 17 , 2025
Ethiopia pours more than three billion Birr a year into academic research, yet too mu...
May 10 , 2025
Federal legislators recently summoned Shiferaw Teklemariam (PhD), head of the Disaste...