Poverty & Inequality: The Collateral Damage By Pandemic

Poverty and inequality have made the pandemic deadlier, more prolonged and more damaging. A new billionaire has been created every 26 hours since the pandemic began. The world’s richest 10 men have seen their fortunes double, while the incomes of 99% of humanity are worse off because of COVID-19. Meanwhile, an estimated 17 million people have died because of COVID-19. The variation in impact of pandemic due to poverty and inequality is manifested as follows:

• Increase in Poverty Rate: When the coronavirus crisis began, almost half of humanity—3.2 billion people—were living below the World Bank’s poverty line of $5.50 a ....