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More poverty will lead to more exclusion





The coronavirus pandemic may have driven as many as 100 million people back into extreme poverty, World Bank President David Malpass warned Thursday.

The Washington-based development lender previously estimated that 60 million people would fall into extreme poverty due to COVID-19, but the new estimate puts the deterioration at 70 to 100 million, and he said “that number could go higher” if the pandemic worsens or drags on.

The situation makes it “imperative” that creditors reduce the amount of debt held by poor countries at risk, going beyond the commitment to suspend debt payments, Malpass said in an interview with AFP.

Even so, more countries will be obliged to restructure their debt.

“The debt vulnerabilities are high, and the imperative of getting light at the end of the tunnel so that new investors can come in is substantial,” Malpass said.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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