Commentaries | Dec 10,2018
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]
Commentaries | Dec 10,2018
Fortune News | Apr 09,2019
My Opinion | Aug 08,2020
Featured | Jul 18,2020
Radar | Dec 26,2020
Commentaries | Dec 11,2020
Radar | Oct 17,2020
International Stories | Apr 16,2020
Viewpoints | Jan 03,2021
Fortune News | Feb 29,2020
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