It Could take a Decade for the Poor to Recover from Pandemic Losses - Oxfam
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- The 1,000 richest people on the planet have recovered from the losses caused by the coronavirus pandemic, according to estimates from global charity Oxfam
- Oxfam stated further in a report titled "The Inequality Virus" that it could take more than a decade for the world's poorest to recover from the economic effects of the pandemic
- Oxfam noted in the report that the world's 10 richest men have seen their combined wealth increase by more than half a trillion dollars since the pandemic started
- At the same time, the pandemic has led to the worst job crisis in nearly 100 years with hundreds of millions of people now unemployed or underemployed
- The report noted that billionaires fortunes rebounded as stock markets recovered while the global recession continued
- Oxfam's report was published on Monday, coinciding with the start of the World Economic Forum's Davos Agenda, holding virtually this year