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Extreme poverty rising for first time since 1998 – World Bank report

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.

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15 Apr 2020
The World Bank says it expects the economy of sub-Saharan Africa to fall sharply from 2.4 per cent in 2019 to a contraction of between 2.1 to 5.1 per cent in 2020, the first recession in the region over the past 25 years. Femi Oladehin, Partner, Investment Banking at Argentil Capital Partners joins CNBC Africa for more.
20 Apr 2020
We look at how the IMF and the World Bank are planning to alleviate the economic impact of the coronavirus pandemic in Africa. The head of the IMF, Kristalina Georgieva, has been speaking to FRANCE 24
27 May 2020
Here is why you should pick up a copy of The Guardian on Thursday. Find these stories and much more when you grab a copy of The Guardian on the newsstands on Thursday.
13 Jun 2020
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.
6 Jul 2020
The World Bank says the collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa for more.
8 Jul 2020
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.
8 Jul 2020
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.
28 Sep 2020
Here are a few reasons to pick up a copy of The Guardian on Monday. Find these stories and much more when you grab a copy of The Guardian on Monday.
15 Oct 2020
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.
9 Oct 2020
Here are a few reasons to pick up a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on Saturday.⁣⁣⁣⁣
8 Jan 2021
The World Bank has downgraded its previous prediction for global growth in 2021 to 4 percent. The organisation warned of a subdued recovery that could lag even further if countries do not stem the rise in coronavirus infections and effectively deploy vaccines. The European Union is also starting to look ahead to how to spend its recovery fund – with the largest recipient, Italy, on the brink of political crisis.
11 Jun 2021
The global economy is heading for its strongest – but most uneven – recovery on record. The World Bank has warned that more international cooperation is needed to ensure more equitable distribution of Covid-19 vaccines to help developing economies rebuild. Franziska Ohnsorge, Manager of the Prospects Group at the World Bank, says that vaccinations and economic recovery will go hand in hand. Also in the show: French gyms prepare to reopen after being closed for more than seven months.