Quarter of a billion people now face extreme poverty, warns Oxfam
Guardian
Oxfam: More Than a Quarter of a Billion People Face Extreme Poverty
Image copyright: AFP/Getty Images [via The Guardian]
The Facts
On Tues., Oxfam released a report warning that over a quarter of a billion people may face "extreme poverty" this year due to COVID, rising global inequality, and a surge in food prices exacerbated by the war in Ukraine.
The World Bank defines extreme poverty as those living under $1.90 a day. 860M people could fall into this category by the end of 2022.
The Spin
Left narrative
Global poverty is a global emergency, but sadly isn't treated as such. Developing countries all over the world are facing unimaginable poverty-catalyzed trauma. Much of the rich world has stepped up to support Ukraine, but has failed to recognize that Ukraine is just one of many countries in dire need of aid.
Right narrative
It's in Oxfam's best interest to perpetuate poverty, and this report should be taken with a grain of salt. This wouldn't be the first time that Oxfam has released misguided reports on economics and inequality - including faulty assertions about a wealth tax.