ADB: Pandemic, inflation push 68 million people in Asia into extreme poverty
(VOVWORLD) - The coronavirus pandemic and the rise in cost of living have pushed 68 million more people in developing Asia into extreme poverty as of last year, the Asian Development Bank said, eroding efforts to combat deprivation.
 Medical staff take samples for COVID-19 testing in Pitha village, India (Photo: Reuters) |
In a new report released on Thursday, the ADB said an estimated 155 million people in developing Asia, or 3.9% of the region’s population, were living in extreme poverty as of last year, 67.8 million more than would have been the case without the health and cost-of-living crises.
Developing Asia consists of 46 economies in the Asia-Pacific region but excludes Japan, Australia, and New Zealand.
ADB Chief Economist Albert Park said Asia and the Pacific is steadily recovering from the COVID-19 pandemic, but the increased cost-of-living crisis is undermining progress toward eliminating poverty.
Extreme poverty is defined as living on less than 2.15 USD a day, based on 2017 figures.