Wednesday, January 9, 2019

Half of the world’s poor live in just 5 countries

Of the world’s 736 million extreme poor in 2015, 368 million – half of the total – lived in just 5 countries. The 5 countries with the highest number of extreme poor are India, Nigeria, Democratic Republic of Congo, Ethiopia, and Bangladesh, according to the World Bank (WB). They also happen to be the most populous countries of South Asia and Sub-Saharan Africa, the two regions that together account for 85 per cent – some 629 million – the world’s poor. Therefore, to make significant continued progress towards the global target of reducing extreme poverty – those living on less than $1.90 a day – to less than 3 per cent by 2030, large reductions in poverty in these five countries will be crucial.
However, we mustn’t lose sight of the numerous other countries with high poverty rates. As poverty projections to 2030 for these five countries reveal, uneven outcomes are likely. When projections are based on countries growing in line with past growth rates – the regional average over the last ten years – extreme poverty in India and Bangladesh approaches zero by 2030 but extreme poverty in Nigeria, DRC, and Ethiopia remains quite elevated.
As emphasised in the Poverty and Shared Prosperity Report 2018, we should go beyond the focus on reducing the global poverty rate to below 3 per cent and strive to ensure that all countries and all people can share in the benefits of economic development.
The uneven progress across these 5 countries is indicative of the broader uneven progress globally. An outcome where extreme poverty is nearly eliminated throughout the world except in one region, sub-Saharan Africa, certainly does not portray a picture of a world free of poverty. 

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