Coronavirus | World Bank says about 11 million could be driven into poverty in East Asia and Pacific
Containment of the pandemic would allow for a sustained recovery in the region, although risks to the outlook from financial market stress would remain high, the Washington-based global lender stated in a report About 11 million people could be driven into poverty in East Asia and the Pacific as a result of the coronavirus pandemic that has impacted over 780,000 people and killed more than 37,000 globally, the World Bank has warned. The Washington-based global lender, in a report released on Monday, said that prior projections had estimated that nearly 35 million people would escape poverty in East Asia and the Pacific in 2020, including over 25 million in China alone. “If the economic situation were to deteriorate further, and the lower-case scenario prevails, then poverty is estimated to increase by about 11 million people,” it said in its April 2020 Economic Update for East Asia and the Pacific ahead of the annual spring meeting of the International Monetary Fund and