UN: 71M people faces poverty due to War-driven inflation| MENAFN.COM

Saturday, 13 August 2022 12:38 GMT

UN: 71M people faces poverty due to War-driven inflation


(MENAFN) As stated by the UN Development Program on Thursday war-driven inflation has sent 71 million people into poverty in a matter of three months starting from March 2022.

The global development agency stated that "The impact on poverty rates is drastically faster than the shock of the COVID-19 pandemic."

The expert of 159 developing nations indicated that increasing commodity costs are already having instant and devastating effects on the worst households, with clear hotspots in the Balkans, nations in the Caspian Sea district, and Sub-Saharan Africa.

UNDP representative Achim Steiner stated that "Unprecedented price surges mean that for many people across the world, the food that they could afford yesterday is no longer attainable today."

Steiner stressed that "We are witnessing an alarming growing divergence in the global economy as entire developing countries face the threat of being left behind as they struggle to contend with the continuing COVID-19 pandemic, crushing debt levels and now an accelerating food and energy crisis."

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