Half a billion people could be pushed into poverty by coronavirus economic fallout, study finds
4 years, 9 months ago

Half a billion people could be pushed into poverty by coronavirus economic fallout, study finds

ABC  

The impact of the COVID-19 pandemic on the global economy could see as many as 580 million people — 8 per cent of the world's population — pushed into poverty, according to researchers. Key points: Researchers say even on a conservative estimate, the pandemic could drive 100 million people into extreme poverty Consecutive Australian Governments have cut the foreign aid budget, particularly to Asia Oxfam is calling for cancellation of developing nations' foreign debt to wealthier states Aid groups, meanwhile, are calling on rich countries to cancel foreign debt held by developing nations in light of projections that decades of poverty alleviation efforts could be lost. "We were surprised at the sheer scale of the potential poverty tsunami that could follow COVID-19 in developing countries," said Professor Andy Sumner, one of the lead authors from King's College London. Australia's region to be hit hard "Even under our most conservative scenario, too conservative to be realistic … we're still talking about 100 million extra people into extreme poverty," said Christopher Hoy of the Australian National University, another author of the report.

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History of this topic

A tale of two economies trying to put covid behind them
2 years, 1 month ago

A tale of two economies trying to put covid behind them

Live Mint  

The Chinese Communist Party rarely steps back from mistaken policies. A report in Wednesday’s Financial Times, quoting research from Wigram Capital Advisors, a macro economic research firm I work with part-time, warns of acute ICU shortages early next year. Wigram’s modelling suggests that ICU demand in March could be 10 times higher than China’s underfunded medical system’s capacity, and that …

The world must do better on Covid
2 years, 3 months ago

The world must do better on Covid

Hindustan Times  

Some of the world’s top health experts, writing as part of the Lancet Commission in a report released this week, blamed governments the world over for “widespread, global failures” in their response to the Covid-19 pandemic. The report said global leaders needed to face “hard truths” that they failed to adhere to basic norms, rationality, and transparency, and that nations …

Lancet report highlights 'massive global failures' in COVID-19 response
2 years, 3 months ago

Lancet report highlights 'massive global failures' in COVID-19 response

The Hindu  

Widespread, global failures at multiple levels in the COVID-19 response led to millions of preventable deaths and reversed progress made towards the UN Sustainable Development Goals in many countries, according to a new Lancet COVID-19 Commission report. The Commission critically considers the global response to the first two years of the COVID-19 pandemic, citing widespread failures of prevention, transparency, rationality, …

Has COVID truly exposed the broken global order?
2 years, 6 months ago

Has COVID truly exposed the broken global order?

The Hindu  

Published : Jun 26, 2022 18:00 IST When the COVID-19 pandemic affected every one of the world’s nations, the way forward seemed obvious, even if difficult to traverse. Many governments, in both developed and developing countries, were willing to set aside large sums to accelerate further research and pre-order potential production of any promising drugs and vaccines, ignoring the risks …

Experts say U.S. suspension of COVID aid will prolong pandemic
2 years, 9 months ago

Experts say U.S. suspension of COVID aid will prolong pandemic

LA Times  

In the latest Senate package targeted at stopping the coronavirus, U.S. lawmakers dropped nearly all funding for curbing the virus beyond American borders — a move many health experts slammed as dangerously short-sighted. He said Uganda has leaned heavily on donor help — it received more than 11 million vaccines from the U.S. — and that any cuts “would make …

COVID-19’s global death toll tops 5 million
3 years, 2 months ago

COVID-19’s global death toll tops 5 million

LA Times  

Relatives of Luis Enrique Rodriguez, who died of COVID-19, visit his burial site on a hill north of Bogotá, Colombia. The global death toll from COVID-19 topped 5 million Monday, less than two years into a crisis that has not only devastated poor countries but also humbled wealthy ones with first-rate healthcare systems. “What’s uniquely different about this pandemic is …

World Bank cuts Asia growth outlook, calls for virus action
3 years, 3 months ago

World Bank cuts Asia growth outlook, calls for virus action

Associated Press  

BEIJING — The World Bank on Tuesday cut its economic growth forecast for developing countries in East Asia due to the impact of the coronavirus’s delta variant and called on governments to help the poor and small businesses avoid long-term damage. It said business activity in Vietnam, Thailand, the Philippines and other economies was improving but now is “showing signs …

Pandemic has affected poor more: RBI Governor Shaktikanta Das
3 years, 3 months ago

Pandemic has affected poor more: RBI Governor Shaktikanta Das

Deccan Chronicle  

Mumbai: Reserve Bank of India governor Shaktikanta Das on Wednesday said the Covid-19 pandemic has severely dented inclusivity across countries. In the medium to long-run, both efficiency and equity will greatly matter for sustainable growth and macroeconomic performance.” The impact of pandemics could be a lot more asymmetric by affecting the vulnerable segments more. Overall, there are evidences across countries …

As rich-poor divide widens between nations, UN urges reform
3 years, 3 months ago

As rich-poor divide widens between nations, UN urges reform

Al Jazeera  

Developing countries could shoulder most of the cost of the coronavirus crisis, a new report from the UN warns. “The danger of a lost decade ahead remains a very real one,” Richard Kozul-Wright, UNCTAD’s director of globalisation and development strategies, told Al Jazeera. “And so far, the discussion of reform of the multilateral system, along the lines that followed the …

Covid-19 pushed 119-124 million people into extreme poverty: UN
3 years, 6 months ago

Covid-19 pushed 119-124 million people into extreme poverty: UN

Live Mint  

NEW DELHI: The coronavirus pandemic, which surfaced at the fag end of 2019, has so far pushed 119-124 million people into extreme poverty worldwide, the United Nations said on Saturday. There is a need for countries to enact policies that are coherent and inclusive, the UN said, adding that access to vaccines is of utmost importance to “build back better”. …

Sustaining and scaling up the response to Covid is key to saving lives
3 years, 7 months ago

Sustaining and scaling up the response to Covid is key to saving lives

Hindustan Times  

The World Health Organization South-East Asia Region has, in recent months, witnessed a sharp and sustained surge of SARS-CoV2 infection. Essential health services must continue to be maintained to ensure that all people can access the services they require to stay healthy and well. Amid ongoing supply challenges, countries should optimise the use of available doses to expand protection among …

These parts of Asia beat coronavirus early. Why they’re suddenly in lockdown
3 years, 7 months ago

These parts of Asia beat coronavirus early. Why they’re suddenly in lockdown

LA Times  

While much of the world is moving beyond the pandemic, Taiwan, which for so long had kept the virus at bay, is unnerved by scenes countries have long forgotten: listless streets, shuttered shops, a run on toilet paper and untold empty seats on subways. “The world needs to realize no one is safe until everyone is safe,” Rimal said from …

World could have prevented COVID-19 catastrophe: Expert panel
3 years, 7 months ago

World could have prevented COVID-19 catastrophe: Expert panel

Al Jazeera  

Report by Independent Panel for Pandemic Preparedness and Response says ‘toxic cocktail’ of dithering and poor coordination means warning signs went unheeded. An independent panel has concluded that the catastrophic scale of the coronavirus pandemic could have been prevented but a “toxic cocktail” of dithering and poor coordination meant the warning signs went unheeded. Early responses to the outbreak detected …

Coronavirus lays bare social inequality, warns UN chief Guterres'
3 years, 9 months ago

Coronavirus lays bare social inequality, warns UN chief Guterres'

India TV News  

The Covid-19 crisis "has revealed how unequal our societies are," said United Nations Secretary-General Antonio Guterres' in his message released on Monday for World Health Day. Highlighting the inequalities and injustices that have been apparent throughout the pandemic, the UN chief said in his message for the day to be marked on Wednesday that the vast majority of vaccine doses …

Covid has pushed too many Indians back into poverty
3 years, 9 months ago

Covid has pushed too many Indians back into poverty

Live Mint  

As the world continues to be ravaged by the covid pandemic, more than a year on, it is becoming increasingly evident that the greatest burden has fallen on the global poor. By contrast, for India, a staggering 75 million people were pushed back into poverty by the covid crisis—this is almost 60% of the global total increase in poverty caused …

Coronavirus | Pandemic may have doubled poverty in India, says Pew study
3 years, 9 months ago

Coronavirus | Pandemic may have doubled poverty in India, says Pew study

The Hindu  

March 19, 2021 08:07 pm | Updated March 20, 2021 10:59 am IST - NEW DELHI India’s middle class may have shrunk by a third due to 2020’s pandemic-driven recession, while the number of poor people — earning less than ₹150 per day — more than doubled, according to an analysis by the Pew Research Center. “The middle class in …

Nobel Prize economists call for vaccine equity and debt relief
3 years, 9 months ago

Nobel Prize economists call for vaccine equity and debt relief

Al Jazeera  

Nobel Prize-winning economists Joseph Stiglitz and Michael Spence are spearheading calls for urgent action to help poorer countries recover from the economic ravages of the coronavirus pandemic. Nobel Prize-winning economists Joseph Stiglitz and Michael Spence are spearheading calls for urgent action to help poorer countries recover from the economic ravages of the coronavirus pandemic, including measures to advance vaccine equity, …

If poor countries don't get access to COVID-19 vaccines, rich countries will also pay: Study
3 years, 11 months ago

If poor countries don't get access to COVID-19 vaccines, rich countries will also pay: Study

Firstpost  

In monopolizing the supply of vaccines against COVID-19, wealthy nations are threatening more than a humanitarian catastrophe: The resulting economic devastation will hit affluent countries nearly as hard as those in the developing world. In the most extreme scenario — with wealthy nations fully vaccinated by the middle of this year, and poor countries largely shut out — the study …

Explained: How Covid-19 has made life difficult for India's poor
3 years, 11 months ago

Explained: How Covid-19 has made life difficult for India's poor

India Today  

The coronavirus pandemic has made life difficult for the poorest population in the world as the economic crisis triggered by it has led to a sharp rise in income inequality. The report indicated that the top billionaires in India became richer by 35 per cent during the pandemic, while millions of poor Indians lost their jobs. “The wealth of Indian …

Coronavirus Australia live news: Scott Morrison says Government will follow health advice on international borders
3 years, 11 months ago

Coronavirus Australia live news: Scott Morrison says Government will follow health advice on international borders

ABC  

Diego Silva, a lecturer in bioethics at the University of Sydney's School of Public Health, spoke to ABC News not long ago. He agrees with World Health Organization chief Tedros Adhanom Ghebreyesus that there has been a moral failing with the rollout of the COVID-19 vaccine around the world, with younger adults in wealthy countries being inoculated before older people …

Coronavirus pandemic severe, but ‘not necessarily the big one’: WHO
4 years ago

Coronavirus pandemic severe, but ‘not necessarily the big one’: WHO

Hindustan Times  

The novel coronavirus has had a devastating impact around the globe, but the World Health Organization warned Monday that worse pandemics could lie ahead, urging the world to get “serious” about preparedness. “This is a wakeup call,” WHO emergencies chief Michael Ryan told reporters at a briefing marking a year since the UN agency first learned of the new virus …

Covid, pandemic and lockdown: How 2020 changed the world
4 years ago

Covid, pandemic and lockdown: How 2020 changed the world

Live Mint  

When the world celebrated the dawn of a new decade with a blaze of firework parties and revelry on January 1, few could have imagined what 2020 had in store. "This is a pandemic experience that's unique in the lifetime of every single person on Earth," says Sten Vermund, infectious disease epidemiologist and dean of Yale School of Public Health. …

2.7 billion people did not get state aid during pandemic: Oxfam
4 years ago

2.7 billion people did not get state aid during pandemic: Oxfam

Al Jazeera  

COVID-19 pandemic has hit billions of people hard with poverty set to surge in almost every country, Oxfam says. The COVID-19 pandemic and the lockdown measures to contain it have hit millions of people hard, with poverty set to increase sharply in almost every country for the first time in decades unless action is taken now, according to a new …

COVID-19 could push over 1 billion into extreme poverty by 2030, says UN study
4 years, 1 month ago

COVID-19 could push over 1 billion into extreme poverty by 2030, says UN study

Firstpost  

The study assesses the impact of different COVID-19 recovery scenarios on the Sustainable Development Goals, evaluating the multidimensional effects of the pandemic over the next decade United Nations: An additional 207 million people could be pushed into extreme poverty by 2030 due to the severe long-term impact of the coronavirus pandemic, bringing the total number of the world’s extremely poor …

Coronavirus pandemic could push over 1 billion people in extreme poverty by 2030, says UN
4 years, 1 month ago

Coronavirus pandemic could push over 1 billion people in extreme poverty by 2030, says UN

India Today  

Due to the severe long-term impact of the coronavirus pandemic, an additional 207 million people could be pushed into extreme poverty by 2030. "Severe long-term effects of the Covid-19 pandemic could push an additional 207 million people into extreme poverty on top of the current pandemic trajectory, bringing the total to over 1 billion by 2030," the study added. The …

Nobel UN food agency warns 2021 will be worse than 2020
4 years, 1 month ago

Nobel UN food agency warns 2021 will be worse than 2020

Associated Press  

UNITED NATIONS — The head of the World Food Program says the Nobel Peace Prize has given the U.N. agency a spotlight and megaphone to warn world leaders that next year is going to be worse than this year, and without billions of dollars “we are going to have famines of biblical proportions in 2021.” David Beasley said in an …

A Lost Decade: Decoding the cost of Covid-19 pandemic
4 years, 2 months ago

A Lost Decade: Decoding the cost of Covid-19 pandemic

India Today  

A decade after facing the worst financial crisis since the Great Depression in the 1930s, the world has again stumbled upon an unprecedented economic challenge due to a microscopic virus. Citing International Labour Organisation estimates, the UNCTAD report indicated that the pandemic has put jobs of more than 500 million people in jeopardy, mainly in the developing world. In what …

Analysis: The US and Europe face rising Covid-19 case numbers as they squander lessons from Asia-Pacific
4 years, 2 months ago

Analysis: The US and Europe face rising Covid-19 case numbers as they squander lessons from Asia-Pacific

CNN  

London CNN — While the Asia-Pacific region treads water until a coronavirus vaccine is found, the West’s biggest economies are drowning as a second wave firmly establishes itself in Europe. Swedish authorities have actively discouraged the use of masks, despite the high number of Covid-19 deaths in care homes, As well as resorting to lazy cultural tropes, such as Trump’s …

Countries should meet these five criteria before easing Covid-19 lockdowns, Lancet study says. Many aren’t even close
4 years, 3 months ago

Countries should meet these five criteria before easing Covid-19 lockdowns, Lancet study says. Many aren’t even close

CNN  

CNN — Countries should not ease coronavirus lockdown restrictions until they meet five criteria – and many nations are not even close, according to a new analysis published in The Lancet medical journal. The authors looked at nine high-income countries and territories that have started to relax restrictions – Hong Kong, Japan, New Zealand, Singapore, South Korea, Germany, Norway, Spain …

Getting COVID-19 Is Putting Americans On The Brink Of Economic Crisis
4 years, 3 months ago

Getting COVID-19 Is Putting Americans On The Brink Of Economic Crisis

Huff Post  

LOADING ERROR LOADING Contracting COVID-19 is putting already financially stressed Americans on the brink of economic disaster. Of the Americans who’ve contracted COVID-19, 63% are facing serious financial problems, according to a survey released Wednesday morning from NPR, the Robert Wood Johnson Foundation and Harvard University’s T.H. Instead they found widespread, serious financial distress ― particularly among Americans earning less …

As US struggles, Africa’s COVID-19 response is praised
4 years, 3 months ago

As US struggles, Africa’s COVID-19 response is praised

Associated Press  

JOHANNESBURG — At a lecture to peers this month, John Nkengasong showed images that once dogged Africa, with a magazine cover declaring it “The Hopeless Continent.” Then he quoted Ghana’s first president, Kwame Nkrumah: “It is clear that we must find an African solution to our problems, and that this can only be found in African unity.” The coronavirus pandemic …

Billionaires should help fight hunger amid Covid-19, says UN
4 years, 3 months ago

Billionaires should help fight hunger amid Covid-19, says UN

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Coronavirus has set global health progress back decades: Gates Foundation
4 years, 3 months ago

Coronavirus has set global health progress back decades: Gates Foundation

India Today  

The knock-on effects of the coronavirus pandemic have halted and reversed global health progress, setting it back 25 years and exposing millions to the risk of deadly disease and poverty, a report by the Bill & Melinda Gates Foundation warned on Tuesday. The Foundation's Goalkeepers report, which tracks progress on the United Nations Sustainable Development Goals of reducing poverty and …

COVID-19 could fuel more conflict, poverty, starvation, says UN
4 years, 4 months ago

COVID-19 could fuel more conflict, poverty, starvation, says UN

The Hindu  

Top UN officials have warned that the COVID-19 pandemic has aggravated discrimination and other human rights violations that can fuel conflict, and its indirect consequences are dwarfing the impact of the virus itself in the world’s most fragile countries. Mr. Lowcock warned the council that the indirect economic and health effects from the crisis in fragile countries “will be higher …

IMF says coronavirus crisis far from over, calls for more economic support
4 years, 4 months ago

IMF says coronavirus crisis far from over, calls for more economic support

India Today  

The International Monetary Fund on Wednesday warned that the coronavirus crisis was “far from over” and underscored the need for multilateral cooperation to ensure adequate supplies once a vaccine is developed. In an essay published in Foreign Policy magazine, IMF Managing Director Kristalina Georgieva and chief economist Gita Gopinath said the ongoing economic recovery from the crisis was the result …

Opinion: Covid-19 has scarred the global economy, but it’s not too late to change course
4 years, 4 months ago

Opinion: Covid-19 has scarred the global economy, but it’s not too late to change course

CNN  

Editor’s Note: This article was originally published in its entirety in the International Monetary Fund’s fall 2020 issue of Finance & Development Magazine. And this means it goes disproportionately after the poor, especially in poor countries and in advanced economies like the United States where access to health care is not guaranteed. There are many reasons for these differences: the …

Australian Government backs effort to distribute coronavirus vaccine globally with foreign aid funds
4 years, 4 months ago

Australian Government backs effort to distribute coronavirus vaccine globally with foreign aid funds

ABC  

The Federal Government has pledged $80 million to a global effort designed to ensure any future COVID-19 vaccine is distributed cheaply in poorer countries around the world. Key points: The Government wants Australia's neighbours in the Pacific and South-East Asia to have affordable access to any vaccine The Government wants Australia's neighbours in the Pacific and South-East Asia to have …

The tragedy of more missed COVID-19 opportunities
4 years, 4 months ago

The tragedy of more missed COVID-19 opportunities

China Daily  

A nurse wearing personal protective equipment watches an ambulance driving away outside of Elmhurst Hospital during the ongoing outbreak of the coronavirus disease in the Queens borough of New York, US, April 20, 2020. My new report, "The Tragedy of More Missed Opportunities", released by the Shanghai Institutes for International Studies, focuses on the new missed COVID-19 opportunities and the …

Even countries that got coronavirus under control are now struggling. That’s deeply concerning for the rest of the world
4 years, 5 months ago

Even countries that got coronavirus under control are now struggling. That’s deeply concerning for the rest of the world

CNN  

Hong Kong CNN — The coronavirus is “easily the most severe” public health emergency the World Health Organization has ever faced, its director-general said Monday, as countries that previously appeared to have the pandemic under control recorded an uptick in cases. Ben Cowling, a professor at Hong Kong University’s school of public health, wrote this week that “we may never …

Government warned of coronavirus 'missed opportunity' to protect migrant communities before Victorian spike
4 years, 6 months ago

Government warned of coronavirus 'missed opportunity' to protect migrant communities before Victorian spike

ABC  

An expert panel of doctors and politicians warned the Federal Government of a "missed opportunity" to prevent coronavirus outbreaks in high-risk groups like migrant communities, several weeks before a spike of cases in Victoria. Key points: An expert panel told the Government in May engagement with community leaders about the virus was "ad-hoc" An expert panel told the Government in …

Letter From the Editors
4 years, 6 months ago

Letter From the Editors

The Diplomat  

Welcome to the June issue of The Diplomat Magazine! COVID-19 has sparked not only a global health crisis but a debt crunch in the developing world; political reshapings in Timor-Leste and Kazakhstan; and an environmental wake-up call in Pakistan. Much of the criticism has been focused on China, which often stands accused of ensnaring poorer partners in “debt traps.” But …

WHO concerned over COVID-19 upswing in many countries
4 years, 6 months ago

WHO concerned over COVID-19 upswing in many countries

India TV News  

World Health Organization said that it's concerned that many countries, particularly the global south, are still on the upswing of the COVID-19 pandemic, and again called for global solidarity to overcome difficulties for "over 100 years." "We are concerned that we are still very much on the upswing of this pandemic in many countries, particularly of the global south," Dr …

Extreme poverty could rise to over one billion people globally due to COVID-19 crisis: Report
4 years, 6 months ago

Extreme poverty could rise to over one billion people globally due to COVID-19 crisis: Report

India TV News  

Global poverty could rise to over one billion people due to the COVID-19 pandemic and more than half of the 395 million additional extreme poor would be located in South Asia, which would be the hardest-hit region in the world, according to a new report. Researchers from King's College London and Australian National University published the new paper with the …

Across Africa, the coronavirus pandemic reveals both inequality and innovation
4 years, 6 months ago

Across Africa, the coronavirus pandemic reveals both inequality and innovation

CNN  

CNN — Tawah Ndlovu made just enough money as a construction worker during the week, along with ad hoc gardening jobs on the weekends, to support his wife and child. “Africa has a very small share of the world’s resources and a very high share of the world’s population,” Coleman says. “We have to protect the lives of Africans through …

How Australia's 'panic and neglect' funding cycle has left us vulnerable to pandemics like coronavirus
4 years, 7 months ago

How Australia's 'panic and neglect' funding cycle has left us vulnerable to pandemics like coronavirus

ABC  

Leading vaccine developers say Australia's funding of infectious diseases research follows a 'panic and neglect' cycle that leaves the country vulnerable to pandemics. Key points: Leading experts say Australia has a 'panic and neglect' funding cycle for infectious disease research Leading experts say Australia has a 'panic and neglect' funding cycle for infectious disease research The consequences of leaving vaccine …

Coronavirus home tips can’t work for poor
4 years, 7 months ago

Coronavirus home tips can’t work for poor

Live Mint  

Around 90% families in developing countries lack the facilities needed to follow the World Health Organization’s directives for protection against the coronavirus, a new study has found. The study, a working paper in the United States’ National Bureau of Economic Research, looks at amenities available to over a million families across 40 countries between 2010 and 2018. The researchers’ index …

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank
4 years, 7 months ago

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank

ABP News  

New Delhi: The World Bank has said that the Coronavirus pandemic and strict lockdown measures taken to contain its transmission will leave a lasting effect on the global economy particularly the emerging market and developing economies, in its analysis of the situation. World Bank Group President David Malpass emphasised the need for comprehensive policies and indicated that 60 million people …

Guterres: African countries may be spared worst of the pandemic
4 years, 7 months ago

Guterres: African countries may be spared worst of the pandemic

Al Jazeera  

UN chief praises continent for responding swiftly but says millions could be pushed into extreme poverty. The relatively low number of confirmed coronavirus cases in Africa has “raised hopes that African countries may be spared the worst of the pandemic”, United Nations Secretary-General Antonio Guterres said, while praising the continent for responding swiftly to the pandemic. “African countries should also …

African leaders say coronavirus aid falling short: Live updates
4 years, 7 months ago

African leaders say coronavirus aid falling short: Live updates

Al Jazeera  

The presidents of Kenya, Ivory Coast, Sierra Leone, Senegal and Niger say wealthy countries have failed the continent. 🧵on key resources re: the order's unlawfulness: https://t.co/jnLgHNDS4E — Charanya Krishnaswami May 19, 2020 20:50 GMT – Trump says considering travel ban on Brazil US President Donald Trump has said he is considering imposing a ban on travel from Brazil, which has …

COVID-19's impact on poverty alleviation efforts being addressed
4 years, 7 months ago

COVID-19's impact on poverty alleviation efforts being addressed

China Daily  

A woman of Lahu ethnic group picks tea leaves at Bulangshan township in Menghai county, Southwest China's Yunnan province, April 11, 2020. Despite the COVID-19 pandemic exerting some impact on the country's poverty alleviation efforts, China will address the challenges and prevent the reoccurrence of poverty to those who have been lifted out of destitution, a senior official said. Liu …

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