Covid leading to massive poverty globally

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Shaheena Ateeq, Toronto

Covid leading to massive poverty globally

Post by Shaheena Ateeq, Toronto »

5 Dec, 2020 06:15 / Updated 13 hours ago

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The world’s appetite for borrowing is growing with global debt expected to reach the next milestone of $200 trillion as early as this year, according to ratings agency S&P Global.

That will reportedly account for 265 percent of the world’s annual economic output, amounting to a 14-point rise as a percentage of world GDP. The dramatic surge was triggered by both the economic plunge due to the coronavirus pandemic, and the extra borrowing that governments, firms and households have had to fall back upon, the New York-based agency said.

“Global debt-to-GDP has been trending up for many years; the pandemic simply exacerbated the rise,” the report reads.

Pakistan calls for debt relief for poor countries struggling with Covid-19 pandemic
Sidqi. Ca

Covid leading to massive poverty globally

Post by Sidqi. Ca »

Trust in Allah and mankind , we will be fine.

Our ten thousand years evolution has faced all kind of wars, epidemics, disasters, tsunamies. Equakes.

The world is now a global village. We won.
jawaid ahmed

Covid leading to massive poverty globally

Post by jawaid ahmed »

Capitalism breeds debt by spending other peoples money. That is how it 'works'.

When you have 90% of the worlds population only having 10% of the worlds resources, 10% has the 90%, then there has always been poverty.
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