The risk of rich countries neglecting poorer ones during the pandemic
The effects of the outbreak there are legion: Hundreds of millions of migrant and day laborers have already lost or will lose their livelihoods with little recourse to state aid. The flow of migrant remittances — a vital economic lifeline for many developing countries — is expected to thin dramatically. And cash-strapped governments won’t be able to fill the breach.
Global poverty is expected to increase this year for the first time in more than two decades. A recent analysis from the World Bank predicted that the coronavirus will push some 49 million people into poverty just in sub-Saharan Africa and South Asia. Another study projected that the pandemic could grow global poverty by as much as half a billion people — that is, the immiseration of 8 percent of humanity in a matter of months.
Last month, the U.N. World Food Program warned of famines of “biblical” proportions if urgent action is not taken to offset the effects of collapsing economies, snarled trade and shortfalls in humanitarian funding. The U.N. …continued .
[Source: Washington Post]