Before the pandemic struck, the extreme poverty rate was expected to drop to 7.9% in 2020.
But now it is likely to affect between 9.1% and 9.4% of the world’s population this year, according to the bank’s biennial Poverty and Shared Prosperity Report.
At the other end of the scale, billionaires have seen their fortunes hit record highs during the pandemic, with top executives from technology and industry earning the most.
The world’s richest saw their wealth climb 27.5% to $10.2tn (£7.9tn) from April to July this year, according to a report from Swiss bank UBS. https://www.bbc.com/news/business-54448589