On June 8, 2020, the World Bank released the latest estimate of the world poverty rate, which incorporates the effects of COVID-19. As a result of examining the impact of a pandemic on the level of global poverty based on the growth forecast model of the June 2020 global economic outlook, it is predicted that COVID-19 will push of 71 to 100 million people into extreme poverty. The outlook for 2020 indicated that Sub-Saharan Africa would be hit hardest. The new forecast is particularly pessimistic for India, where the poverty is expected to grow in South Asia. The article published on the World Bank Data Blog is available here. 

References

World Bank. Updated estimates of the impact of COVID-19 on global poverty. Mahler et al. June 8, 2020. https://blogs.worldbank.org/opendata/updated-estimates-impact-covid-19-global-poverty

Pick Up 57. World Bank ― The Global Economic Prospects, June 2020

Contributor: IIYAMA Miyuki (Research Strategy Office)