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