Around half a billion people could be pushed into poverty as a result of the economic fallout from the pandemic unless richer countries take “urgent action” to help developing nations, a leading aid organisation warned on Thursday.
Oxfam has urged richer countries to step up their efforts to help the developing world. Failing to do so, it added, could set back the fight against poverty by a decade and by as much as 30 years in some areas, including Africa and West Asia.
“The devastating economic fallout of the pandemic is being felt across the globe,” said Jose Maria Vera, Oxfam International interim executive director. “But for poor people in poor countries who are already struggling to survive there are almost no safety nets to stop them falling into poverty.”
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The report, which is based on research at King’s College London and the Australian National University, warns that between 6% and 8% of the global population could be forced into poverty.