Nigeria ranked poverty capital of the world

The World Bank says the global economy is facing its deepest recession since World War II as a result of the coronavirus pandemic. Advanced economies are set to shrink 5 percent, while emerging economies are facing their first contraction in decades. Franziska Ohnsorge, lead author of the 2020 Global Economic Prospects report, tells FRANCE 24 that millions of people working in an informal capacity could slip into poverty despite government support. Also in the show: BP announces plans to slash 10,000 jobs as OPEC extends its oil production cuts.

The World Bank says the outbreak of the COVID-19 pandemic is expected to push five million more Nigerians into poverty this year as the pandemic is threatening the ability of Nigerian households to generate income to meet their basic consumption needs. Bismarck Rewane, CEO of Financial Derivatives joins me from Lagos for this conversation.

The African Development Bank says an additional 49 million Africans could be pushed into extreme poverty by the Covid-19 pandemic and its aftermath. This was in the updated forecast of the Africa Economic Outlook, where they expect Central Africa and West Africa to be the hardest-hit regions. Kayode Akindele, Partner at TIA Capital joins CNBC Africa for more.

Childhood poverty rates in Germany refuse to budge, a new study has shown. Experts say the coronavirus crisis will only make the situation worse.

The past 10 years have seen an increasing number of people in Germany at risk of falling below the poverty line. In one large city, nearly a quarter of residents fall into this category.

One month on from the deadly Beirut explosion, we take a look at the economic situation in Lebanon. The blast ruptured supply chains, destroyed grain reserves and worsened an already catastrophic economic situation in the country. By the end of the year, experts predict that over half of the population will be living in poverty.

The world's poorest children are getting even poorer, according to UNICEF and Save the Children. And they warn that the situation could get a lot worse in the coming months.

Extreme poverty is set to rise this year for the first time in more than two decades, with coronavirus expected to push up to 115 million people into that category, the World Bank has said.

French charity Secours Catholique recently published its annual report on poverty. The NGO, which helped around 1.4 million people in 2019, estimates that their median income is €537 per month, well below the poverty line in France. Due to the Covid-19 crisis, people across job sectors have been left with little or no work, with many households slipping into poverty as a result. Our colleagues at France 2 report, with FRANCE 24's James Vasina.

The year 2020 should have been marked by a further reduction in poverty around the world, but instead the Covid-19 pandemic has reversed decades of progress. According to estimates by the World Bank, up to 115 million people could be pushed into extreme poverty in 2020 as a result of Covid-19.

When the coronavirus pandemic shuttered restaurants in California, Aleida Ramirez lost her job as a waitress, plunging her - along with many other single mothers - into a vicious cycle of poverty, unpaid bills and reliance on food banks. Marisol Gonzales and Maria Lara have faced similar struggles on the other side of the country, in New York and Washington. The pandemic has been particularly hard on women who work in the service sector, which has been crippled by the economic crisis.

Spain's struggling economy had been showing improvement when the coronavirus pandemic hit the country hard, throwing it into a tailspin. Food banks have become essential in helping people with no foreseeable job prospects feed their families.