Last year, the COVID-19 pandemic pushed 77 million people into extreme poverty
Many developing countries are still unable to recover due to the crippling cost of debt repayments.
According to the report, rich countries could help their economies recover from pandemic slumps by borrowing record amounts at ultra-low interest rates.
According to the United Nations, 812 million people lived in extreme poverty in 2019, living on USD 1.90 or less per day, and by 2021, the number had risen to 889 million due to the pandemic.
According to the report, the conflict in Ukraine will exacerbate these challenges.