Global Research, July 19, 2022
The COVID-19 Lockdown Triggers Worldwide Poverty
Poverty and chronic undernourishment is a pre-existing condition.
First, there is a long term historical process of macroeconomic policy reform under IMF-World Bank auspices which has contributed to depressing the standard living Worldwide in both the developing and the developed countries.
Second, these preexisting historical conditions of mass poverty have been exacerbated and aggravated by the imposition of the Covid lockdown.
With large sectors of the World population already well below the poverty line prior to the March 2020 Covid-19 lockdown, the recent hikes in the prices of basic food staples are devastating.
Millions of people around the World are unable to purchase food for their survival. And this is by no means limited to the “developing countries”.
According to the ILO (2020 report), over two billion people representing 62 percent of the global labor force, are employed in the informal economy. This population group is impoverished beyond description, with “millions of people facing a growing risk of hunger”.
Earnings of informal sector workers are estimated to have declined by 82 percent as a result of the covid lockdown, “with Africa and Latin America to face the largest decline.” (ILO data quoted by (FAO, p. 6).
The FAO’s July 2020 report points to 27 countries facing so-called “acute food insecurity”.
Read the rest at: https://www.globalresearch.ca/benefits-world-hunger/5786182