150 million people set to fall into 'extreme poverty' due to COVID pandemic, World Bank warns

The World Bank has warned that 150 million people could fall into “extreme poverty” by the end of 2021 due to the coronavirus pandemic and accompanying global recession with the levels of global poverty set to rise for the first time in 20 years.

In a new Poverty and Shared Prosperity Report, the organization said that between 9.1% and 9.4% would be affected by extreme poverty, which is defined by the group as living on under $1.90 a day. Had the pandemic not hit, the rate was forecast to fall...