Oxfam: More Than a Quarter of a Billion People Face Extreme Poverty

APR 12 2022·Updated JAN 23 2023

Story

Image credit: AFP/Getty Images [via The Guardian]

The Facts

On Tues., Oxfam released a report warning that over a quarter of a billion people may face "extreme poverty" this year due to COVID, rising global inequality, and a surge in food prices exacerbated by the war in Ukraine.
Oxfam International
The World Bank defines extreme poverty as those living under $1.90 a day. 860M people could fall into this category by the end of 2022.
Oxfam International
The report estimates that rising food prices alone could propel 65M people into this category. This is over-and-above the 198M projected by the World Bank earlier this year.
CTVNews
Oxfam outlined several recommendations, including canceling debt payments for developing countries and implementing an annual wealth tax.
Guardian
The report was released ahead of the IMF and World Bank Spring Meetings scheduled for next week in Washington.
Bloomberg.com
In 2020, 97M people dropped into poverty as their wages sank below $1.90 USD as a result of the pandemic.
International Banker

Sources Split

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The Spin

Left narrative

Global poverty is a global emergency, but sadly isn't treated as such. Developing countries all over the world are facing unimaginable poverty-catalyzed trauma. Much of the rich world has stepped up to support Ukraine, but has failed to recognize that Ukraine is just one of many countries in dire need of aid.

guardian

Right narrative

It's in Oxfam's best interest to perpetuate poverty, and this report should be taken with a grain of salt. This wouldn't be the first time that Oxfam has released misguided reports on economics and inequality - including faulty assertions about a wealth tax.

National Review