The Washington Post
July 3, 2020 at 2:00 p.m. GMT+2
The novel coronavirus pandemic has wreaked havoc on the global economy, upending entire industries and leaving scores of people around the world without work, child care and — in many places — enough food on their tables.
The economic upheaval has exposed and intensified deep-seated inequity, thrusting many of the world’s most vulnerable people into more precarious situations and pushing others into poverty. More than 10 million cases of the virus have been confirmed globally, but even in places where the official case count remains low, the ripple effects of the economic crisis have left many families on shaky financial footing.
Previous economic crises have taken devastating tolls. During the global financial crisis of 2007-2008, poverty increased in some countries and the rate of poverty reduction slowed in others. Countries suffered persistent losses in output. And researchers documented close associations between spikes in unemployment and excess mortality.