The UNDP estimates that 51.6 million more people fell into extreme poverty in the first three months after the war, living off $1.90 US a day or less.
The speed at which this many people experienced poverty outpaced the economic pain felt at the peak of the pandemic. The UNDP noted that 125 million additional people experienced poverty over about 18 months during the pandemic's lockdowns and closures, compared with more than 71 million who hit poverty in just three months after Russia's invasion of Ukraine in late February."The speed of this is very quick," said George Molina, UNDP chief economist and author of the report.
Protesters march toward the presidential palace during a demonstration over soaring living costs in Accra, Ghana, on June 29. The West African nation, reeling from a pandemic-spurred economic slump and hammered by the impact of Russia's war in Ukraine, saw inflation surge to more than 27 per cent last month, the highest level in almost two decades.
People line up in front of a bakery to buy bread in Lebanon's southern city of Sidon on June 22, as a fuel and wheat shortage deepens. For cash-strapped and debt-laden developing countries to achieve this, the UNDP called for an extension of debt payments that had been in place during the pandemic among the world's richest nations.
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