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World Bank: Rising Number Of Poor In Developed Economies

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Nearly half the world’s population lives on less than $5.50 a day, with a rising share of the poor in wealthier economies and extreme poverty still entrenched in Sub-Saharan Africa.

In a twice-yearly report, the World Bank took a broader look at poverty to see where countries were lagging, even though the share of those living in extreme poverty — defined as earning less than $1.90 a day — has continued to come down in recent years.

Under the expanded criteria for poverty, the report found the number of poor worldwide was still “unacceptably high,” while the fruits of economic growth were “shared unevenly across regions and countries.”

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Even though global growth of recent years had been sluggish, the total count of people in poverty declined by more than 68 million people between 2013 and 2015 — “a number roughly equivalent to the population of Thailand or the United Kingdom.”

Despite the improvement, the report said current trends indicated the World Bank’s goal of reducing extreme poverty to less than three percent of the world’s population by 2030 may be unattainable.

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“Particularly distressing findings are that extreme poverty is becoming entrenched in a handful of countries and that the pace of poverty reduction will soon decelerate significantly,” the report said.

At the $5.50-a-day threshold, global poverty fell to 46 percent from 67 percent between 1990 and 2015. The bank reported last month that extreme poverty had fallen to 10 percent in 2015.

With China’s rise, East Asia and the Pacific saw a 60 point drop in the poverty rate to 35 percent, but the region is unlikely to continue to achieve that pace going forward as growth has moderated.

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And poverty is becoming entrenched in Sub-Saharan Africa, where 84.5 percent of the population still live on less than $5.50 a day, the report said.

And while two decades ago, 60 percent of the global population lived in low-income countries, by 2015, that had fallen to nine percent.

The World Bank also cautioned that in many of those countries, the poor were not sharing equally in economic growth.

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World News

Coronavirus: Wuhan Begins To Return To Everyday Life

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Coronavirus: Wuhan Begins To Return To Everyday Life

After more than two months of isolation, residents of Wuhan, China where it is believed to be the origin of the coronavirus outbreak, have been allowed to leave their homes for the first time in months as authorities are easing the city-wide lockdown that kept Wuhan’s 11 million residents at home.

Although, many shops are still closed after numbers of new cases of covid-19 have fallen dramatically, sidewalk vendors can be seen wearing face masks and gloves as they sold pork, tomatoes, carrots and other vegetables to shoppers on Friday.

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Since the lockdown on January 23, many restaurants, shops and other businesses shut down in the city as residents relied on online groceries and government-organized food deliveries.

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Residents have been slowly trickling back on to the streets of Wuhan which recorded more than 50,000 coronavirus cases. At least 3,000 persons died in Hubei province from coronavirus.

Volunteers in protective suits disinfected public areas in preparation for an increase in activity. Officials are concerned about the possibility of a second wave of infections, warning people to remain vigilant as it orders local health authorities to step up detection, monitoring and supervision.

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A total of 81,589 confirmed cases have been reported in China, which exclude asymptomatic patients, and 3,318 deaths from the outbreak.

Globally, the number of cases has topped 1 million, with at least 52,000 deaths.

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World News

US President Donald Trump Says New Recommendations On Face Masks Are Coming

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US President Trump Says New Recommendations On Face Masks Are Coming

The Trump administration says it is ready to join forces with local officials to advise Americans to wear masks when leaving their houses as covid-19 cases escalate in the US.

For the first time, the death toll in the country rose by one thousand in a single day.

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A member of president Donald Trump’s coronavirus task force, Deborah Birx said at a White House briefing the U.S. Centers for Disease Control and Prevention (CDC) would add a recommendation on masks to guidelines on protective measures in the coming days.

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U.S. Covid-19 death toll, as of Thursday, stood at fifty-eight hundred with more than 243,000 cases across all 50 states.

The Trump administration, CDC and public health officials have all wavered on the issue of face masks since the pandemic broke out, initially telling healthy people such measures were unnecessary or even counter-productive.

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Global Coronavirus Cases Top One Million, Deaths Surpass 50,000

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Nigeria Records Two More Deaths From Coronavirus, Total Cases Hit 210

The number of coronavirus infections reached more than one million globally on Thursday as death toll topped 50,000 around the world.

As the pandemic spreads further in the United States and the death toll climbed in Spain and Italy, according to the latest figures from Johns Hopkins University, nearly 53,000 persons have died and more than 210,000 have recovered worldwide.

The US reported the highest daily death toll of any country so far at nearly 1,200. It now has more than 6,000 fatalities while Spain reported a record one-day number of deaths, 950, bringing its overall toll to 10,003 from 9,053 as the number of infections rose to 110,238, up from 102,136 a day earlier.

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Meanwhile, Italy on Thursday recorded 760 more deaths for a total of 13,900 fatalities as the contagion spreads.

Coronavirus was first recorded in China late last year, since then the pandemic has spread to many countries around the world, prompting governments to close businesses, ground airlines and order hundreds of millions of people to stay at home to try and combat the spread of the virus.

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More than 1,013,000 persons have been diagnosed with COVID-19 globally with Spain the second-worst hit in terms fatalities.

Spain has lost nearly 900,000 jobs and the US is also feeling the economy impact as the number of Americans filing new claims for unemployment benefit has surged to 6.65m in the week ending March 28, according to the US Bureau of Labor Statistics figure released on Thursday.

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