Under the most serious scenario - a 20% contraction in income - the number of people living in extreme poverty would rise by 434 million people to 922 million worldwide. The same scenario would see the number of people living below the $5.50 a day threshold rise by 548 million people to nearly 4 billion. … [Read more...] about Coronavirus crisis could plunge half a billion people into poverty: Oxfam
Eradicating poverty and hunger
In a report recently submitted to the National Assembly Committee on Social Affairs, the association outlines their prediction that between 60% and 80% of its firms will move to temporarily suspend operations by the middle of April, therefore affecting 800,000 workers. This massive number of layoffs could increase to 1.2 million by the end of April if all businesses cease operations. … [Read more...] about BUSINESS NEWS HEADLINES APRIL 7
The World Bank last week announced its “East Asia and Pacific in the time of COVID-19” report, which stated that while prospects remain favourable for the Vietnamese economy in the medium term, GDP growth will be affected negatively by the coronavirus outbreak, now a global pandemic. “Preliminary estimates suggest that the rate of expansion of the economy could decline to about 4.9 per cent in 2020, which is about 1.6 percentage points lower than our previous forecast,” read the report. … [Read more...] about Sustained growth can be achieved through reforms
Also, the winter crop has been bountiful. India has a robust food stockpile - some 60 million tonnes of food grains - and the world's largest state-run food distribution programme. Food shortages are unlikely. But the challenges are in supporting farmers, sharecroppers and labourers until things return to normal; getting food to the poor and securing the harvest for the next season. … [Read more...] about Will coronavirus lockdown cause food shortages in India?
The Vietnamese Ministry of Planning and Investment has submitted a report to the National Assembly for opinions on a stimulus package worth VND62 trillion (US$2.6 billion) to support people and businesses affected by the novel coronavirus disease (COVID-19) pandemic. … [Read more...] about Vietnam mulls $2.6bn support for people, businesses affected by COVID-19