The United Nations confirmed that "the COVID-19 pandemic, the cost of living crisis, and the war in Ukraine have pushed 165 million people into poverty since 2020," calling for a halt to debt repayments for developing countries. It noted that "due to these crises, 75 million people are expected to fall into extreme poverty, defined as living on less than $2.15 a day, between 2020 and the end of 2023, while another 90 million people will fall below the poverty line of $3.65 a day," according to a study published by the UN Development Program. The report indicated that "the poorest groups are suffering the most and are expected to see their incomes in 2023 remain below pre-pandemic levels."
Akim Steiner, the head of the UN Development Program, stated: "Countries that could have invested in safety nets over the past three years prevented a large number of people from falling into poverty." He added: "In heavily indebted countries, there is a relationship between high debt levels, inadequate social spending, and a concerning increase in poverty rates."
