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Less extreme lockdown to work better for India: Carmen Reinhart, chief economist, World Bank


Synopsis
Agencies
I think EMs will face a bigger trade-off soon because of currency pressures – rupee has depreciated this year. This does have some filtering through to inflation, she said.
India needs to ward off credit crunch as a strong second wave of Covid-19 has hit the country at a time when there is constrained fiscal space and monetary ammunition, said Carmen Reinhart, chief economist of the World Bank Group. In an interview to ET , she said India would do well to take early action to help businesses and households that face financial stress. Edited excerpts:
How do you see economic recovery shaping up given the strong second wave of the Covid-19 pandemic? ....

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Northern states account for much of Nigeria's poverty Mess - Reports


North accounts for much of the national poverty mess. The poverty rate in the North-East and North-West zones of Nigeria is 77.7 per cent and 76.3 per cent respectively, and 67.5 per cent poverty rate in the North-Central zone.
A new World Bank report showed that about 2,969,158 Nigerians entered extreme poverty between April and October 2019. It noted that about 94,470,535 million people in Nigeria live below the extreme poverty line.
The report also identified the country as the largest poor population in sub-Saharan Africa, with 79 million extremely poor in 2018.
The government has to look beyond basking in the euphoria of shallow feats in a troubled economy struggling on a dwindling mono-economy and regular handouts from the centre to generate realistic policy and economic frameworks. ....

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Social security program seeks to address poverty challenge


Social security program seeks to address poverty challenge
19th February 2021
Illustration - portrait of poverty (ANTARA)
The COVID-19 pandemic, which has triggered a global economic crisis, is posing a real challenge to many countries, including Indonesia, in their efforts to meet the UN Sustainable Development Goal (SDG) of ending poverty by 2030.
Owing to the pandemic’s impact on the economy, global poverty could increase for the first time since 1990, representing a reversal of approximately a decade of global progress in reducing poverty, according to a study by the United Nations University – UNU Wider.
The World Bank, in its Poverty and Shared Prosperity Report, published in October, 2020, confirmed that the poverty reduction progress has slowed down owing to the impact of COVID-19. ....

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