World Bank warns millions could fall into 'extreme poverty' during Covid-19 pandemic

The World Bank says the global economy is facing its deepest recession since World War II as a result of the coronavirus pandemic. Advanced economies are set to shrink 5 percent, while emerging economies are facing their first contraction in decades. Franziska Ohnsorge, lead author of the 2020 Global Economic Prospects report, tells FRANCE 24 that millions of people working in an informal capacity could slip into poverty despite government support. Also in the show: BP announces plans to slash 10,000 jobs as OPEC extends its oil production cuts. 

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[simplethings]

Gee whiz, the world economy had just the right amount of extremely desperate workers, and now they're going to have an oversupply. How heartbreaking.

[eddenoy]

I listen to this and then I wonder how the stock market keeps rising.

[hossainshariarchowdhury]

Huge people in the world are unemployment right now & they have not that much money to deal with their life comfortably that is clearly shown us as a worldsocial and economical problem & ultimately they are involving lots of crime and criminality as well. So need to think all the Government & non governmental organizations for that kind of people, financially helping them & recruit them in the job or other site considering their ability & talent.

[philippesantini]

Oh well if the world bank says it... ;).

Maybe the IMF will swoop in and save us with mmt for all. ;)

Or maybe it's time to start making soap in our basements.

[webdeuce]

Help them world bank :::: )))) bankers to the world