Half a Billion People at Risk of Poverty From Virus Fallout
- Oxfam urges suspending or canceling debt of developing nations
- Charity backs cash grants for individuals, worker subsidies
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The economic hit from coronavirus threatens to put more than half a billion people into poverty unless countries take action to cushion the blow, according to a report from the charity group, Oxfam.
“Under the most serious scenario of a 20% contraction in income, the number of people living in poverty could increase by between 434 million and 611 million,” said the report, which is based on an analysis by researchers at King’s College London and the Australian National University.