annual meeting calculated the impact of the crisis on global poverty due to shrinking household incomes or consumption.
The report authors played through a number of scenarios, taking into account the World Bank’s various poverty lines -from extreme poverty, defined as living on $1.90 a day or less, to higher poverty lines of living on less than $5.50 a day. “Living day to day, the poorest people do not have the ability to take time off work, or to stockpile provisions,” the report warned, adding that more than 2 billion informal sector workers worldwide had no access to sick pay.
Calls for debt relief have increased in recent weeks as the fallout from the COVID-19 pandemic has roiled developing nations around the world.
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