World Bank: Coronavirus crisis can push 60 million people into ‘extreme poverty’

Published

4 years ago

May 20, 2020

A deserted shopping mall in the city centre of Stockholm is pictured on March 17, 2020, as many activities came to a halt or slowed down due to the spread of the novel coronavirus. (Photo by Fredrik SANDBERG / TT News Agency / AFP) / Sweden OUT (Photo by FREDRIK SANDBERG/TT News Agency/AFP via Getty Images)

The warning signaled a deeper pessimism among economists about the scale and duration of the fall from what banks call an “unprecedented crisis.”

The World Bank, which provides loans and grants to the governments of poor countries, predicted a month ago that this year would mark a historic step back for inequality, with a pandemic “likely to lead to the first increase in global poverty since 1998.”

It said in a blog post on April 20 that “best estimate ” is that 49 million people will be forced into extreme poverty, which by definition banks have to live on less than $ 1.90 per day.

The deteriorating outlook is caused by the spread of economic activity and “erasing much of the recent progress in poverty alleviation,” World Bank President David Malpass said in a statement.

The recent surge in cases in several countries has also forced banks to implement what they consider to be the “biggest and fastest crisis response” ever. It said emergency relief efforts had reached 100 developing countries, which are home to 70% of the world’s population.

The World Bank aims to help vulnerable people by giving grants and loans to individuals and businesses, and defer debt payments to some of the world’s poorest countries. Overall, it’s been promised at the very least $ 160 billion to combat the virus so far.

Some of the poorest people in the world have begun to feel the pain.

Migrant workers around the world lost their jobs because the pandemic stopped working in various industries. As a result, the World Bank estimates that global remittances, or money sent home to families, could drop 20%, or around $ 100 billion, this year.

& # 39; I can't send money back home ': How is the lifeline for the poorest people in the world cut off because Covid-19

Tens of millions of people in Africa may become poor as a result of the crisis, human rights leaders warned Wednesday.

“We cannot stand by and hope that this most virulent and deadly disease passes through Africa, which is home to many of the poorest countries in the world who are not in a position to handle such a pandemic,” UN High Commissioner for Human Rights Michelle Bachelet and Chair of the Commission Africa for Human Rights and Society Solomon Dersso said in a joint statement.

Country & # 39; a large pile of debt turned into a disaster

The World Bank said last month that it expected people in sub-Saharan Africa to suffer the most. At present, 39 of the 100 World Bank targeted countries are there, and at least 23 million residents in the region projected to go to the extreme poverty due to coronavirus outbreaks.

South Asia also tends to suffer. In addition to Nigeria and the Democratic Republic of the Congo, World Bank economists the word last month that India, one of the most populous countries in the world, was estimated to see “the biggest change in the number of poor people,” with around 12 million affected.

“The place where the virus takes the highest casualties depends mainly on two factors,” wrote analysts at the bank blog post. “The impact of the virus on economic activity and … the number of people living close to the international poverty line.”

– Sarah Dean from CNN contributed to this report.

Goodwin Townsend

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Portuguese historical films will premiere on 29 December.

Published

1 year ago

December 20, 2022

Herb Adkins

Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

“Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Herb Adkins

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CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’

Published

1 year ago

December 20, 2022

Herb Adkins

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS 'There will be room'

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Published

1 year ago

December 19, 2022

Herb Adkins

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.