World Bank warns that extreme poverty will reach 28.6 million Latin Americans

The World Bank (WB) warned that up to 115 million people might fall into extreme poverty in the world by 2020 due to the crisis-induced by Covid-19. The institution estimates that the economy will contract by 5.2% in 2020, the largest drop in GDP in 80 years. Latin America, a region where more than 650 million people live, the rate of extreme poverty would go from 3.9% in 2017 to 4.4% at the end of this year, reaching a total of 28.6 million people.

Sigma Corp, a monopoly that moves $89.4 mn in eight years

The State contracts for the nutritional supplements Carmelo (for the elderly) and Nutribebé (for children) awarded to the Chemical and Pharmaceutical Industry Sigma Corp of Cochabamba. The company got 91% of the public contracts to supply these products between 2012 and 2019, a business of Bs 626 million ($89.94 mn). Thus it consolidated the creation of a monopoly that enjoys state complicity due to the lack of controls. Currently, the company is the exclusive representative for the manufacture and distribution of Avifavir, medicine from the Chemrar pharmaceutical group allied with the Russian National Investment Fund used to treat Covid-19.