News / The Outbreak

Poverty after virus

Monday, 06 April 2020 1:57 PM [ Last Update: Monday, 06 April 2020 2:11 PM ]

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This file photograph taken on April 19, 2018, shows an aerial view of a Peugeot factory in Carrières-sous-Poissy, north-west of Paris. (Photo by Reuters)

Much of the world is being hit by the coronavirus outbreak. Millions are in lockdown and economies are paralyzed. Last week the World Bank said the economic fallout from the coronavirus pandemic could drive an additional 11 million people into poverty in East Asia and the Pacific unless "urgent action" is taken. The Washington-based financial institution said in the worse-case scenario the region could suffer its sharpest downturn in more than two decades, plunging much of Asia into a prolonged recession.

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