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Latin Times
Latin Times
Business
Andrea Pineda-Salgado

Economic Inequality is Getting Worse and It's Affecting Latin America: Oxfam

Eggs in a Medellin, Colombia market. (Credit: Unsplash.com/Transly Translation Agency)

NEW YORK CITY - Since 2020, the gap between the world's wealthiest and the poor has been drastically increasing, according to a report published by Oxfam International, an anti-poverty group. The richest five men in the world have doubled their fortunes yet at the same time, almost five billion people globally have become poorer.

At the current rate, it would take 230 years to end poverty but the world's first trillionaire can exist in only 10, according to "Inequality Inc." Oxfam's, latest report. While none of the world's five wealthiest men are Latin American, the economic gap they've caused has greatly affected the region — Carlos Brown Solá, research director at Oxfam Mexico explains how.

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