In nine months, the capitalization of the richest thousand billionaires on Earth have recovered from the crisis. But it could take another ten years for the poorest people in the world to recover financially from the COVID crisis, says Oxfam Novib in a report on Monday.
The organization is based, among others, on a World Bank report. Oxfam Novib also questioned 295 economists from 79 different countries about their opinion on the restoration from the pandemic.
87% of these economists expect income inequality in their country to increase or even to increase sharply as a result of the pandemic. More than half of economists expect gender inequality to increase and more than two out of three economists expect inequality based on origin to increase.
Finally, Oxfam Novib states that women are particularly affected financially by the crisis. According to the organization, women are over-represented in sectors that are seriously affected by the crisis. If there were as many men as women working in these sectors, 112 million women worldwide would no longer be at risk of losing their income and jobs.
About the author: Rick Culpepper
Rick Culpepper is of those journalists who dig the topic to the very bottom. He is often late with the delivery of the piece, but always does it perfectly. In his spare time, he collects data for one of the most high-profile investigations of corruption in the EU.