ECLAC Says Extreme Poverty In The Region Has Risen Significantly Due to the Pandemic

• United Nations' Economic Commission for Latin America and the Caribbean (ECLAC) in their annual report reveals that extreme poverty in the region has risen significantly due to the coronavirus pandemic. 
• The health crisis is still ongoing, and Latin America and the Caribbean is the world’s most vulnerable region in this pandemic,” said ECLAC, adding that, as a result of the prolonged health and social crisis stemming from the COVID-19 pandemic, the extreme poverty rate in the region has risen from 13.1% of the population in 2020 to 13.8% in 2021. 
• According to ECLAC, poverty would have been greater in 2020 if regional countries had not implemented measures such as emergency cash transfers. However, despite the economic recovery experienced in 2021, the estimated relative and absolute levels of poverty and extreme poverty have remained above those recorded in 2019, which reflects the ongoing social crisis. 
• The global COVID-19 pandemic has had severe negative impacts on the global economy, especially low income groups. The economic damage on these low income groups will persist as governments struggle to effectively deal with the coronavirus. 

(Source: ECLAC)