The World Bank stated this Tuesday that ending poverty could take more than a century if the current pace continues, and admitted that the goal of ending extreme poverty by 2030 “is out of reach.”
“At the current low rate, it may take more than a century to eliminate poverty in almost half the world, as defined for almost half of the world’s population, that is, people living on less than $6.85 a day,” reads the World Bank report titled ‘Poverty, Prosperity and the Planet’.
The report published this Tuesday in Washington, within the framework of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank, is the first evaluation of progress towards eradicating poverty and promoting prosperity after the COVID-19 pandemic. covid-19, but the conclusion is not encouraging: “The global goal of eradicating extreme poverty, defined as $2.15 per person per day, by 2030 is out of reach”reads in the document.
The World Bank estimates that it may take 30 years or more to eliminate this type of poverty, which mainly affects the poorest countries, where almost 700 million people live, representing 8.5% of the total, and should only decrease at 7.3%. the end of the decade.
“Extreme poverty continues to be concentrated in countries with historically low and fragile economic growth, many of which are located in sub-Saharan Africa,” says the report, adding that almost half of the world’s population (44%) lives with less. of $6.85 a day, which is the poverty line for middle- and high-income countries.
“After decades of progress, the world is experiencing serious setbacks in the fight against global poverty.as a result of interconnected challenges, including low economic growth, the pandemic, high debt, conflict and fragility, and climate crises,” said World Bank Senior Executive Director Axel van Trotsenburg.
Commenting on the report, the official called for a “completely new approach” to improving people’s lives and said countries must address current problems now, and not later, when it becomes more costly for them and more dangerous for the planet.
Low-income countries, which include all Portuguese-speaking African countries (PALOP), except Angola and Equatorial Guinea, “must prioritize poverty reduction through economic growth achieved through greater investment in job creation , human capital, access to services and infrastructure. while improving resilience,” the report also reads.
Source: Observadora
