A report by the group Against Poverty “Oxfam” published today (Monday) states that the corona crisis has exacerbated global inequality, with the rich already making up for their losses following the plague, while the world’s poor will take years to recover. According to the group, fairer economies are the key to a rapid economic recovery from the crisis.
GodCorona in the world (Photo: Reuters)
In a report titled “Inequality Virus,” the group warned that the corona crisis was the first time inequality had risen in almost any country at the same time.
“The 1,000 richest people on the planet have lost about 30 percent of their fortune but have recovered their corona losses in just nine months, while the world’s poor may take more than a decade to recover,” the report said.
The report noted that the ten richest have added many billions to their fortunes since the beginning of the epidemic: Elon Musk added $ 126 billion to his fortune, Jeff Bezos added $ 78 billion, Mark Zuckerberg grew another $ 45 billion and Bill Gates added $ 22 billion to his fortune. The data were taken from Forbes 2020’s list of billionaires and Credit Suisse’s wealth data to investigate the financial impact of the epidemic on the richest in the world.
The researchers sought to highlight the fact that the impact of the virus is unevenly felt, with ethnic minorities in some countries dying at higher rates and women being over-represented in the sectors hardest hit by the crisis.
Using data provided specifically by the World Bank, Oxfam said that in the worst-case scenario global poverty would be higher in 2030 than it was before the plague occurred, with 3.4 billion people still living on less than $ 5.50 a day.
The report argues that “the fight against inequality must be at the heart of economic rescue and recovery efforts” and recommends investing in public services, funded by a tax system in which the richest individuals and corporations pay their fair share.
“Corrupt economies are pouring wealth into a wealthy elite riding the plague in splendor, while those on the front line of the plague – shop assistants, health care workers and market providers – are struggling to pay the bills and put food on the table,” said Gabriella Boker, CEO of Oxfam International.