Will COVID-19 lead to half a billion more people living in poverty in developing countries?

The impacts of COVID-19 in developing countries are starting to be felt. The Economist went as far as to call it the ‘next calamity’, noting how overlooked the impact on poorer countries has been. One relevant question is this: What will be the impact of COVID-19 on global poverty numbers? Chris Hoy, Eduardo Ortiz-Juarez, and myself decided to take a look at a new WIDER Working Paper. Our estimates show that, regardless of the scenario, global poverty could increase for the first time since 1990, and, depending on the poverty line, such an increase could represent a reversal of approximately 10 years in the world’s progress in reducing poverty. In some regions, the adverse impacts could result in poverty levels similar to those recorded 30 years ago.https://www.wider.unu.edu/