COVID-19 and Rising Inequality

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COVID-19 and Rising Inequality

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The COVID-19 pandemic has raised global income inequality, both within and between countries, setting back progress by a decade or more. Vulnerable groups, including low-income people, youth, women, and informal workers, have faced particularly severe job and income losses. Without a forceful policy response, there is a risk that higher inequality will become entrenched. Support from the global community is essential to expedite a return to an inclusive and sustainable recovery.

Join World Bank Managing Director Mari Pangestu and a distinguished panel of experts as they discuss the latest findings on inequality from the January 2022 Global Economic Prospects report, and implications for countries and the global community.

Use the following timestamps to navigate different sections of the video.

00:00 COVID-19 and rising inequality: Welcome and opening remarks
23:04 Colombia: Social assistance; informal sector; learning issues
36:50 How can governments reverse rising inequality trends?
44:30 National and global policies for reversing gender inequalities
58:10 How does the world become more prepared for the next crisis
1:05:20 Rethinking global cooperation: First priorities of action
1:17:07 Youth inclusion and economic empowerment
1:25:06 Closing remarks

“COVID-19 has increased inequality in nearly every sphere: in the availability of vaccines, in economic growth rates, in access to education and health care, and in the scale of job and income losses — which have been higher for women and informal workers."

— Mari Pangestu, Managing Director, Development Policy and Partnerships, World Bank

“We had to very quickly anticipate the impacts of the pandemic on the more vulnerable population."

— Alejandra Botero, Director General, Department of Planning, Colombia

“This crisis has revealed a huge difference in access to vaccines, and access to health, between the rich and the poor countries."

— Branko Milanovic, Presidential Professor, City University of New York

“For the first time in over 20 years, poverty has been increasing. In 2021 alone, 235 million people needed humanitarian assistance and protection.”

— Sofía Sprechmann Sineiro, Secretary General, CARE International

Speakers

Read the chat below!
Inae Riveras

Learn more about the World Bank’s work on poverty and inequality.
Mon, 01/24/2022 - 11:32
Inae Riveras

That concludes the discussion. Thank you to all who tuned in! Check back soon for a recording of the event, which will be made available on this page.
Mon, 01/24/2022 - 11:32
Sridhar

Worldwide inflation is there. What do u suggest governments to address on this
Mon, 01/24/2022 - 11:29
Inae Riveras

For more information on the impact of COVID-19 on youth and education, check out this recently published blog.
Mon, 01/24/2022 - 11:28
Bella Anis

How can reducing inequalities help countries make progress on the SDG agenda?
Mon, 01/24/2022 - 11:24

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