He world's richest 1,000 individuals recouped all of their losses caused by the COVID-19 pandemic in nine months as billions of low-income households face a decade of hardship, one of the world's most prominent charities said Monday
MOSCOW (Pakistan Point News / Sputnik - 25th January, 2021) The world's richest 1,000 individuals recouped all of their losses caused by the COVID-19 pandemic in nine months as billions of low-income households face a decade of hardship, one of the world's most prominent charities said Monday.
In a new report published to coincide with the opening day of the World Economic Forum's Davos Agenda, Oxfam said that the ongoing pandemic could potentially raise inequality levels in almost every country in the world.
"We stand to witness the greatest rise in inequality since records began. The deep divide between the rich and poor is proving as deadly as the virus," Gabriela Bucher, executive director at Oxfam International, said in a press release accompanying the report.
The world's ten richest men have seen their personal fortunes increase by approximately $500 billion since the start of the pandemic, Oxfam said.
Additionally, women are overrepresented in lower-paid precarious jobs that have been hit the hardest by the ongoing pandemic, the charity said, noting that women comprise 70 percent of the global health and social care workforce, which is at greater risk of contracting COVID-19.
The Organisiation for Economic Co-operation and Development has also warned that the ongoing coronavirus disease pandemic will result in rising levels of inequality and increased unemployment for years to come.
