Pandemic, inflation push 68 million more in Asia into extreme poverty - ADB
The Asian Development Bank (ADB) has reported that the coronavirus pandemic and rising cost of living have led to an increase of approximately 70 million people in developing Asia falling into extreme poverty. This has hindered efforts to combat deprivation in the region. The ADB stated that an estimated 155.2 million people in developing Asia now live in extreme poverty, which is 3.9% of the region's population. The ADB Chief Economist, Albert Park, emphasized the importance of strengthening social safety nets and promoting investment and innovation to address this issue.