MANILA: The coronavirus pandemic and rise in cost of living have pushed close to 70 million more people in developing Asia into extreme poverty as of last year, the Asian Development Bank said, eroding efforts to combat deprivation.
In a new report released on Thursday, the ADB said an estimated 155.2 million people in developing Asia, or 3.9 percent of the region’s population, lived in extreme poverty as of last year, 67.8 million more than would have been the case without the health and cost-of-living crises.
Developing Asia consists of 46 economies in the Asia-Pacific and excludes Japan, Australia and New Zealand.
“Asia and the Pacific is steadily recovering from the COVID-19 pandemic, but the increased cost-of-living crisis is undermining progress toward eliminating poverty,” said ADB Chief Economist Albert Park.
Extreme poverty is defined as living on less than $2.15 a day, based on 2017 figures.
Inflation in most countries has soared to multi-year highs last year, driven by a rebound in economic activity and a surge in supply chain disruptions.
Price increases affected everyone but poorer people were hit the hardest because they had to spend more on food and fuel, making it difficult for them to save money and pay for essentials including health care and education.
“By strengthening social safety nets for the poor and fostering investment and innovation that creates opportunities for growth and employment, governments in the region can get back on track,” Park said.
Developing Asia was on track to grow 4.8 percent this year from a year earlier, faster than the previous year’s 4.2 percent expansion, the ADB said in July.
But while economies in developing Asia were expected to make progress in addressing poverty, the ADB said 30.3 percent of the region’s population, or about 1.26 billion people, will still be considered economically vulnerable by 2030.
Pandemic, inflation push 68 million more in Asia into extreme poverty — ADB
https://arab.news/vs2r9
Pandemic, inflation push 68 million more in Asia into extreme poverty — ADB
- Inflation in most countries has soared to multi-year highs last year, driven by a rebound in economic activity and a surge in supply chain disruptions
US and Ukraine ‘a lot closer’ on peace deal, Trump says after meeting with Zelensky
- Zelensky sees agreement on security guarantees for Ukraine
- Hurdles to a comprehensive peace deal remain
- Trump spoke with Putin ahead of meeting on Sunday
PALM BEACH, Florida: US President Donald Trump said on Sunday that he and Ukrainian President Volodymyr Zelensky were “getting a lot closer, maybe very close” to an agreement to end the war in Ukraine, though both leaders acknowledged that some of the thorniest details remain unresolved.
The two leaders spoke at a joint press conference late Sunday afternoon after meeting at Trump’s Mar-a-Lago resort in Florida. Trump said it will be clear “in a few weeks” whether negotiations to end the war will succeed.
Zelensky said an agreement on security guarantees for Ukraine has been reached. Trump was slightly more cautious, saying that they were 95 percent of the way to such an agreement, and that he expected European countries to “take over a big part” of that effort with US backing.
Zelensky has said previously that he hopes to soften a US proposal for Ukrainian forces to withdraw completely from the Donbas region of eastern Ukraine, a Russian demand that would mean ceding some territory held by Ukrainian forces.
Both Trump and Zelensky said on Sunday the future of the Donbas had not been settled. “It’s unresolved, but it’s getting a lot closer. That’s a very tough issue,” Trump said.
Just before Zelensky and his delegation arrived at Trump’s Florida residence, Trump and Russian President Vladimir Putin spoke in a call described as “productive” by the US president and “friendly” by Kremlin foreign policy aide Yuri Ushakov.
Ushakov, in Moscow, said Putin told Trump a 60-day ceasefire proposed by the European Union and Ukraine would prolong the war. The Kremlin aide also said Ukraine needs to make a decision regarding the Donbas “without further delay.” And he said the Russian government had agreed to establish working groups to resolve the conflict that will focus on economic and security concerns.
Meeting follows Russian attacks on Kyiv
Zelensky arrived at Mar-a-Lago early Sunday afternoon, as Russian air raids pile pressure on Kyiv. Russia hit the capital and other parts of Ukraine with hundreds of missiles and drones on Saturday, knocking out power and heat in parts of Kyiv. Zelensky has described the weekend attacks as Russia’s response to the US-brokered peace efforts, but Trump on Sunday said he believes Putin and Zelensky are serious about peace.
The US president said he will call Putin again after meeting with Zelensky. Zelensky had previously told journalists he plans to discuss the fate of the contested Donbas region with Trump, as well as the future of the Zaporizhzhia nuclear power plant and other topics.
Russia claims more battlefield advances
Putin said on Saturday Moscow would continue waging its war if Kyiv did not seek a quick peace. Russia has steadily advanced on the battlefield in recent months, claiming control over several more settlements on Sunday.
While Kyiv and Washington have agreed on many issues, the issue of what territory, if any, will be ceded to Russia remains unresolved. While Moscow insists on getting all of the Donbas, Kyiv wants the map frozen at current battle lines.
The US, seeking a compromise, has proposed a free economic zone if Ukraine leaves the area, although it remains unclear how that zone would function in practical terms.
US negotiators have also proposed shared control over the Zaporizhzhia nuclear plant. Power line repairs have begun there after another local ceasefire brokered by the International Atomic Energy Agency, the agency said on Sunday.
Russia controls all of Crimea, which it annexed in 2014, and since its invasion of Ukraine nearly four years ago has taken control of about 12 percent of its territory, including about 90 percent of the Donbas, 75 percent of the Zaporizhzhia and Kherson regions, and slivers of the Kharkiv, Sumy, Mykolaiv and Dnipropetrovsk regions, according to Russian estimates.
Putin said on December 19 that a peace deal should be based on conditions he set out in 2024: Ukraine withdrawing from all of the Donbas, Zaporizhzhia and Kherson regions, and Kyiv officially renouncing its aim to join NATO. Zelensky’s past encounters with Trump have not always gone smoothly, but Sunday’s meeting follows weeks of diplomatic efforts. European allies, while at times cut out of the loop, have stepped up efforts to sketch out the contours of a post-war security guarantee for Kyiv that the United States would support.
On Sunday, ahead of the Mar-a-Lago visit, Zelensky said he held a detailed phone call with British Prime Minister Keir Starmer. Trump and Zelensky will hold a phone call with European leaders at some point during the Florida meeting, Trump said. The 20-point plan was spun off from a Russian-led 28-point plan, which emerged from talks between US special envoy Steve Witkoff, Trump’s son-in-law Jared Kushner and Russian special envoy Kirill Dmitriev, and which became public in November.
Subsequent talks between Ukrainian officials and US negotiators have produced the more Kyiv-friendly 20-point plan.
