Saturday, March 2, 2024
Covid 19

Covid-19 crisis is worsening economic inequality at unprecedented rate, Oxfam says

A foreign exchange officer counts rupiah banknotes for customers in Jakarta on March 12, 2020. - The rupiah weakened against the dollar as affected by the slowing economy due to the Covid-19 Corona virus issue. (Photo by BAY ISMOYO / AFP) (Photo by BAY ISMOYO/AFP via Getty Images)

The Covid-19 pandemic is rapidly widening the gap between rich and poor, according to anti-poverty NGO Oxfam. While the world’s 1,000 richest people recovered their pre-crisis wealth in just nine months, the poor will need some 10 years to get back to where they were. Oxfam senior policy officer Quentin Parrinello explains the report’s findings.

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