by Martin Armstrong
The World Financial institution discovered that 97 million individuals worldwide fell into poverty as a direct influence of the 2020 pandemic, and lots of stay on solely $2 per day. The World Financial institution defines COVID-induced poverty as “poverty calculated because the distinction in poverty in a world with and with out the pandemic.”
The World Financial institution estimates that excessive poverty will decline 2.9% in 2021, which is sort of similar to annual declines in poverty recorded earlier than the pandemic. Nonetheless, the group admitted that lockdown measures, moderately than the precise coronavirus, are responsible for financially decimating 97 million individuals:
“When the pandemic broke out, many growing international locations responded in methods much like high-income international locations; by locking down main elements of their financial system. These lockdowns decreased incomes and employment, inflicting a rise in excessive poverty. In 2021, the urge for food for lockdowns has been smaller. This will have restricted the financial penalties at the price of elevated COVID instances and COVID-related deaths.”
Sadly, the urge for food for lockdowns has continued into 2021 in lots of elements of the world. Now, the harm brought on by ongoing lockdowns can’t be undone.