The “Poverty Tsunami”

Government leaders are walking a knife’s edge between viral and economic catastrophe as public health experts warn that premature reopenings could lead to COVID-19 resurging. 

The stakes are immense: COVID-19 may push 500 million into poverty, according to a new UN University working paper.

With even the smallest estimated impact, the “poverty tsunami” will shrink global consumption shrunk by 5% and lead to the first uptick in income-related poverty since 1990, study co-author and King’s College London Professor Andy Sumner told The Guardian.

As global cases topped 1.5 million, Oxfam is urging global leaders to fund a $2.5 trillion economic rescue plan to “to keep poor countries and poor communities afloat.”

In the US, the Trump administration is seeking a way to reopen businesses by May 1, The Washington Post reports.  

But lead US coronavirus scientist Anthony Fauci counsels redoubling efforts at physical distancing and reopening communities based on their progress, according to CBS.

And: A new Lancet article argues for extreme caution in balancing health and economic priorities until a vaccine against COVID-19 is available, according toCNN

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1 comment

Sergio Firmo
April 11, 2020

Obviously the balance is dramatically affected as to the regions with high poverty level. For the very poors living in bad conditions is unlike the feasibility and effectiveness of the social distancing. Therefore those people may suffer intensively both the effects of the desease and of the lost of income.

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