News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
21
o
Mount Lebanon
22
o
Metn
22
o
Keserwan
22
o
North
22
o
South
22
o
Bekaa
26
o
Live
Video
Audio
Schedule
shows
العربية
watching now
La Ekher EL Omr
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
21
o
Mount Lebanon
22
o
Metn
22
o
Keserwan
22
o
North
22
o
South
22
o
Bekaa
26
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Coronavirus crisis could plunge half a billion people into poverty - Oxfam
Breaking Headlines
2020-04-09 | 09:31
High views
Share
Share
Coronavirus crisis could plunge half a billion people into poverty - Oxfam
Watch now
More details about online video viewing packages
4
min
Coronavirus crisis could plunge half a billion people into poverty - Oxfam
The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on Thursday.
The report released by the Nairobi-based charity ahead of next week's International Monetary Fund (IMF)/World Bank annual meeting calculated the impact of the crisis on global poverty due to shrinking household incomes or consumption.
"The economic crisis that is rapidly unfolding is deeper than the 2008 global financial crisis," the report found.
"The estimates show that, regardless of the scenario, global poverty could increase for the first time since 1990," it said, adding that this could throw some countries back to poverty levels last seen some three decades ago.
The report authors played through a number of scenarios, taking into account the World Bank's various poverty lines - from extreme poverty, defined as living on $1.90 a day or less, to higher poverty lines of living on less than $5.50 a day.
Under the most serious scenario - a 20% contraction in income - the number of people living in extreme poverty would rise by 434 million people to nearly 1.2 billion worldwide. The same scenario would see the number of people living below the $5.50 a day threshold rise by 548 million people to nearly 4 billion.
Women are at more risk than men, as they are more likely to work in the informal economy with little or no employment rights.
"Living day to day, the poorest people do not have the ability to take time off work, or to stockpile provisions," the report warned, adding that more than 2 billion informal sector workers worldwide had no access to sick pay.
The World Bank last week said poverty in East Asia and the Pacific region alone could increase by 11 million people if conditions worsened.
To help mitigate the impact, Oxfam proposed a six point action plan that would deliver cash grants and bailouts to people and businesses in need, and also called for debt cancellation, more IMF support, and increased aid. Taxing wealth, extraordinary profits, and speculative financial products would help raise the funds needed, Oxfam added.
Calls for debt relief have increased in recent weeks as the fallout from the COVID-19 pandemic has roiled developing nations around the world.
In total, governments around the world would need to mobilize at least $2.5 trillion to support developing nations.
"Rich countries have shown that at this time of crisis they can mobilize trillions of dollars to support their own economies," the report said.
"Yet unless developing countries are also able to fight the health and economic impacts the crisis will continue and it will inflict even greater harm on all countries, rich and poor."
REUTERS
To watch the full report, please click on the video above.
Breaking Headlines
Coronavirus
health
Poverty
World
Next
Grand Mufti Derian travels to Saudi Arabia for Hajj
Recommended For You
d-none hideMe
0
Lebanon News
2024-04-17
Israeli warplanes strike agricultural land near Baalbek: Three missiles launched
Lebanon News
2024-04-17
Israeli warplanes strike agricultural land near Baalbek: Three missiles launched
0
Middle East News
2024-04-16
Israeli army detects missile launches from Lebanon
Middle East News
2024-04-16
Israeli army detects missile launches from Lebanon
0
Lebanon News
2024-04-16
Breaking: Car targeted on Al-Majbal road in Ain Baal
Lebanon News
2024-04-16
Breaking: Car targeted on Al-Majbal road in Ain Baal
0
Middle East News
2024-04-15
Israeli response to Iranian attack expected soon: Israeli Broadcasting Corporation
Middle East News
2024-04-15
Israeli response to Iranian attack expected soon: Israeli Broadcasting Corporation
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
2024-04-08
Search intensifies for missing coordinator: Pascal Sleiman's abduction shocks Byblos
Lebanon News
2024-04-08
Search intensifies for missing coordinator: Pascal Sleiman's abduction shocks Byblos
0
Lebanon News
2024-04-13
Lebanon temporarily closes airspace from 1:00 AM to 7:00 AM, subject to review amid regional developments
Lebanon News
2024-04-13
Lebanon temporarily closes airspace from 1:00 AM to 7:00 AM, subject to review amid regional developments
0
Middle East News
06:12
Turkey calls for restraint to avoid spread of conflict in Middle East
Middle East News
06:12
Turkey calls for restraint to avoid spread of conflict in Middle East
0
Middle East News
2023-07-11
Animal epidemic turns Cyprus into an "island of dead cats" and could spread to Lebanon and Turkey
Middle East News
2023-07-11
Animal epidemic turns Cyprus into an "island of dead cats" and could spread to Lebanon and Turkey
Videos
d-none hideMe
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
Middle East News
00:06
Israeli missiles hit site in Iran, ABC News reports
Middle East News
00:06
Israeli missiles hit site in Iran, ABC News reports
2
News Bulletin Reports
12:26
Economic crisis: IMF awaits Lebanon's reforms
News Bulletin Reports
12:26
Economic crisis: IMF awaits Lebanon's reforms
3
News Bulletin Reports
12:08
US-Israel Agreement: Rafah Invasion Planned, Limited Response to Iran
News Bulletin Reports
12:08
US-Israel Agreement: Rafah Invasion Planned, Limited Response to Iran
4
Middle East News
01:45
Israeli airstrikes target military site in southern Syria
Middle East News
01:45
Israeli airstrikes target military site in southern Syria
5
Middle East News
00:21
No missile attack against Iran, Reuters source says
Middle East News
00:21
No missile attack against Iran, Reuters source says
6
Middle East News
02:56
Iranian official: There is no plan for an immediate response to Israel
Middle East News
02:56
Iranian official: There is no plan for an immediate response to Israel
7
Middle East News
00:14
Israeli army refuses to comment on reports of explosions in Iran and strikes in Syria
Middle East News
00:14
Israeli army refuses to comment on reports of explosions in Iran and strikes in Syria
8
Lebanon News
05:21
MEA adjusts Dubai flight schedule amidst storm recovery
Lebanon News
05:21
MEA adjusts Dubai flight schedule amidst storm recovery
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More