The disruptions caused by the Covid-19 pandemic pushed an estimated 55 million Africans into extreme poverty in 2020, undoing more than two decades of poverty reduction in Africa, according to a United Nations Economic Commission for Africa (ECA) report.
The report, entitled “Tackling Poverty and Vulnerability in Africa During the Covid-19 Pandemic”, was presented by the ECA during the 54th session of the Conference of African Ministers of Finance, Planning and Economic Development, which took place from 11 May to 2019 takes place, issued 17 in Dakar, the capital of the West African country of Senegal.
The report uncovered the causes and consequences of the increase in poverty due to the Covid-19 pandemic, as well as other shocks such as oil prices, the Xinhua News Agency reported.
Non-poor people, whose consumption levels ranged from $1.90 to $2.09 per day (0-10 percent above the poverty line), were pushed into poverty by the pandemic, as even low consumption volatility could push them below the poverty line. said the report.
It found that poor people with little wealth, limited access to credit, informal employment and low wages have been particularly hard hit by the containment measures put in place during the pandemic.
The report also warned that 15 African countries were also at risk of finding themselves “in a situation of over-indebtedness”.
(Only the headline and image of this report may have been edited by Business Standard contributors; the rest of the content is auto-generated from a syndicated feed.)