https://en.sputniknews.africa/20241016/ending-poverty-for-half-the-world-could-take-over-100-years-world-bank-says--1068707986.html
Ending Poverty for Half The World Could Take Over 100 Years, World Bank Says
Ending Poverty for Half The World Could Take Over 100 Years, World Bank Says
Sputnik Africa
WASHINGTON (Sputnik) – According to the World Bank's report, the number of economies with high income inequality has declined over the past decade; 1.7 billion... 16.10.2024, Sputnik Africa
2024-10-16T11:14+0200
2024-10-16T11:14+0200
2024-10-16T16:24+0200
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Ending poverty for half the world could take more than 100 years, the World Bank said on Tuesday.The report provides the first post-pandemic assessment of global progress toward eradicating poverty.The document pointed out that 44% of the world’s population lives on less than $6.85 per day, the poverty line for upper-middle-income countries. The number of people living below this poverty line has barely changed since 1990 due to population growth, it added. The bank called on countries to strengthen international cooperation and boost finance for development. These measures are critical for a successful transition toward more sustainable, inclusive, and resilient economies, it added.Earlier, it was said that a total of 41 African countries (that is, 72% of the entire continent) are projected to show higher growth rates in 2024 compared to last year, according to the latest African Development Bank’s African Economic Outlook.
https://en.sputniknews.africa/20241015/world-bank-downgrades-sub-saharan-africa-economic-growth-forecast-for-2024-to-3-1068690381.html
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international, world bank, poverty, economy, finance, population, africa, united nations (un), statistics
international, world bank, poverty, economy, finance, population, africa, united nations (un), statistics
Ending Poverty for Half The World Could Take Over 100 Years, World Bank Says
11:14 16.10.2024 (Updated: 16:24 16.10.2024) WASHINGTON (Sputnik) – According to the World Bank's report, the number of economies with high income inequality has declined over the past decade; 1.7 billion people, or 20% of the global population, still live in high-inequality economies. Most of them are concentrated in Latin America, the Caribbean, and Sub-Saharan Africa.
Ending poverty for half the world could take more than 100 years, the World Bank said on Tuesday.
"At today’s feeble pace, it could take more than a century to eliminate poverty as it is defined for nearly half the world—people who live on less than $6.85 per day," the World Bank said in a new report.
The report provides the first post-pandemic assessment of global progress toward eradicating poverty.
The document pointed out that 44% of the world’s population lives on less than $6.85 per day, the
poverty line for upper-middle-income countries. The number of people living below this poverty line has barely changed since 1990 due to population growth, it added.
"Nearly 1 in 5 people globally are likely to experience a severe weather shock in their lifetime from which they will struggle to recover. Almost all those exposed to extreme weather events in Sub-Saharan Africa are at risk of experiencing welfare losses due to their high vulnerability," the World Bank said.
The bank called on countries to strengthen international cooperation and boost finance for development. These measures are critical for a successful transition toward more sustainable, inclusive, and resilient
economies, it added.
Earlier, it was said that a total of 41 African countries (that is, 72% of the entire continent) are projected to show higher growth rates in 2024 compared to last year, according to the latest African Development Bank’s
African Economic Outlook.
