(AP) – The World Bank says up to 150 million people could slip into extreme poverty, living on less than $1.90 a day, by late next year depending on how badly economies shrink during the COVID-19 pandemic.
More than three-quarters of the new extreme poor are expected to be in middle-income countries such as India, Nigeria and Indonesia. Many will be more educated urban residents, meaning cities will see an increase in the kind of poverty traditionally rooted in rural areas.
The bank’s baseline estimate says at least 110 million people will join the extreme poor.
