The World Bank has warned that the global epidemic Corona could cause 60 million people worldwide to live in extreme poverty.
According to a report by the British Broadcasting Corporation (BBC), the President of the World Bank, David Melpas, has said that the whole world is facing a global epidemic which is expected to reduce the global economic growth rate by 5% this year.
The World Bank president said the deadly corona virus had already killed millions, left millions jobless and lost their businesses, while the health system was facing challenges.
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“In this situation, we estimate that the corona virus will soon push 60 million people into extreme poverty, putting behind all the progress that has been made to eradicate poverty over the past three years,” the World Bank president said.
Clearly, the World Bank has worked with the International Monetary Fund (IMF) on a scheme to ask poor countries to get out of debt by repaying loans to G20 members by the end of this year.