https://www.abc.net.au/news/2020-04-09/coronavirus-poverty-study-research-oxfam-anu/12136222
A sharp contraction in global consumption will create devastating effects for developing countries. If a contraction of 20% or more in per capita consumption occurs, some studies predict that an additional 500,000,000 people, or approximately 7% of the world population, will fall into extreme poverty. To prevent such a catastrophe, international humanitarian organizations such as Oxfam have called for an immediate cancellation of more than $1 trillion in debt, along with a similarly large aid package for impoverished nations to bolster social safety nets and healthcare systems.