The poorest nations and communities endure the greatest hardships during pandemics, creating a vicious cycle where those most affected are the least able to respond effectively. This conclusion comes from the Global Council on Inequality, AIDS and Pandemics, which released its report on Monday, 3 November.
According to the findings, the COVID-19 pandemic forced 165 million more people into poverty. Women, informal laborers, and ethnic minorities faced the harshest economic consequences. At the same time, the debt of developing countries surged to $3 trillion, leaving more than half of low-income nations either in or nearing debt distress.
In stark contrast, the world’s wealthiest individuals saw their fortunes rise by 25% during the same period.
“The rich had a very good pandemic. There was an increase in billionaires and an increase in their wealth, while poorer people got poorer,” said Professor Michael Marmot, director of the Institute of Health Equity at University College London.
“The pandemic increased social and economic inequality, which means that we’re less well prepared for the next pandemic unless we act on the conditions in which people are born, grow, live, work and age, and the fundamental drivers of those inequalities,” added Marmot, co-chair of the council, speaking at the report launch in Johannesburg.
The pandemic deepened global inequality, amplifying the wealth of the few while pushing millions into poverty and leaving societies less prepared for future crises.