Saloni Subha ( Intern Journalist ) The coronavirus pandemic might have pushed as many as 100 million people back into extreme poverty, warned World Bank President David Malpass on Thursday.
According to Washington based development lender 60 million people would fall into extreme poverty due to Covid-19, but as per the recent data the number has increased to 70 to 100 million, he said that the number could go even higher if the pandemic worsens or drags on.”
The situation has made it necessary for the creditors to reduce the amount of debt held by poor countries at risk going beyond the commitment to suspend the debt payments, said Malpass in an interview with the news agency.
“The debt vulnerabilities are high, and the imperative of getting light at the end of the tunnel so that new investors can come in is substantial”, Sid Malpass.
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