Since the year 2000, the number of people living in extreme poverty worldwide has fallen by more than 1 billion people.
For the first time in 20 years, poverty is likely to significantly increase. Nearly 125 million people are likely to be pushed into extreme poverty by the COVID 19 pandemic. “The estimated increase in global poverty in 2020 is truly unprecedented,” said the World Bank in its latest forecast.
Compared to the pre-COVID-19 forecast, extreme poverty is projected to rise in total by 46 million in the Commonwealth and by 96 million in the rest of the world by the end of 2021. South Asia and Sub-Saharan Africa are the two regions that will be hit the most, according to the World Bank.