Bistandsaktuelt.no (Norway) published an article suggesting that the loss of work and income in the wake of COVID-19 can lead millions of people in developing countries into extreme poverty. What kind of world will be seen after COVID-19 is uncertain. According to IFPRI, five weeks of closure (lockdown)cost Nigeria $ 18 billion or a 38 percent fall in the country’s value creation. The loss is greatest in industry and the service sector, and relatively less in agriculture (See IFPRI blogpost, COVID-19 lockdowns are imposing substantial economic costs on countries in Africa).
The corona crisis can lead millions into poverty (Bistandsaktuelt.no)
May 16, 2020