Oxfam warns: Half a billion people could be below the poverty line because of Corona

The charitable organization "Oxfam" warned today, Wednesday, that the crisis of the Coronavirus and the Covid-19 virus could leave half a billion people in the world in poverty, if plans to support the poorest countries are not speeded up.

In a report entitled "The Price of Dignity", the international NGO indicated that between 6% to 8% of the world's population may catch up with those who currently live below the poverty line after governments have stopped entire economic cycles to contain the spread of the virus.

The report, which was prepared by Kings College in London and the Australian National University, warned that if this happens, it will fight back ten years of poverty worldwide, and indeed thirty years in certain regions such as Sub-Saharan Africa and the Middle East and North Africa, according to a report broadcast German Agency (DBA).

The report added that more than half of the world’s 7.8 billion people are threatened to fall below the poverty line when the Corona pandemic ends.

The organization called on world leaders to agree on an economic rescue package for the survival of developing countries and societies.

And because there are no social protection systems in it, the poorest countries and disadvantaged groups, including women, will be hardest hit by the consequences.

Oxfam's warning comes ahead of the International Monetary Fund and World Bank meetings and April G20 finance ministers, all of which will be held via video.

providing support
Oxfam recommended direct financial assistance to those most affected, give priority to providing support to small businesses and linking aid intended for large companies to measures in the interest of vulnerable groups.

The organization called for exempting the poorest countries from paying their debts on their due dates this year, and gave an example of this Ghana, which can "provide for six months 20 dollars a month to all the country's 16 million children, and to the disabled and the elderly" if it is exempt from paying its debts On due dates.

Oxfam also recommended increasing the special drawing rights from the International Monetary Fund by at least one thousand billion dollars in order to enable this financial body to help the poorest countries, increase development assistance from donor countries immediately and establish an emergency tax system for solidarity by imposing tax fees on huge profits and great wealth. Profits and speculative activities harmful to the environment.

According to Ruban Gitar, a campaign officer for Oxfam in France, "France can without delay exempt developing countries from paying their debts due in 2020 to help them immediately respond to the crisis."