For the first time in two decades, global extreme poverty has increased amid cascading crises like COVID-19 and economic shocks, according to a sobering UN report released Thursday. The pandemic erased years of progress, leaving low-income countries struggling to recover while wealth inequality hits record levels 💸.
Key Numbers That Hurt
By 2022, the richest 10% held 76% of global wealth 🏦, while the poorest half scraped by with just 2%. Unemployment in low-income nations crept up to 21%, and the world could lose $50 trillion in economic output by 2030 due to stalled social investments 📉.
A Call to Action
The report urges urgent global reforms 🌐: debt relief for developing nations, smarter international aid, and stronger financial systems to prevent future shocks from becoming full-blown crises. 'Every country needs support to rebuild,' said UN Under-Secretary Li Junhua.
What’s Next?
While some nations rebound, the UN warns this is a make-or-break moment ⏳. Solutions? Grants, fair loans, and long-term policy shifts to tackle poverty traps. The message is clear: collaboration beats crisis.
