Related Research Articles
Extreme poverty is the most severe type of poverty, defined by the United Nations (UN) as "a condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information. It depends not only on income but also on access to services". Historically, other definitions have been proposed within the United Nations.
The economy of Grenada is largely tourism-based, small, and open economy. Over the past two decades, the main thrust of Grenada's economy has shifted from agriculture to services, with tourism serving as the leading foreign currency earning sector. The country's principal export crops are the spices nutmeg and mace. Other crops for export include cocoa, citrus fruits, bananas, cloves, and cinnamon. Manufacturing industries in Grenada operate mostly on a small scale, including production of beverages and other foodstuffs, textiles, and the assembly of electronic components for export.
The economy of Guatemala is a considered a developing economy, highly dependent on agriculture, particularly on traditional crops such as coffee, sugar, and bananas. Guatemala's GDP per capita is roughly one-third of Brazil's. The Guatemalan economy is the largest in Central America. It grew 3.3 percent on average from 2015 to 2018. However, Guatemala remains one of the poorest countries in Latin America and the Caribbean, having highly unequal incomes and chronically malnourished children. The country is beset by political insecurity, and lacks skilled workers and infrastructure. It depends on remittances for nearly one-tenth of the GDP.
Haiti is a free market economy with low labor costs. A republic, it was a French colony before gaining independence in an uprising by its enslaved people. It faced embargoes and isolation after its independence as well as political crises punctuated by foreign interventions and devastating natural disasters. Haiti's estimated population in 2018 was 11,439,646. The Economist reported in 2010: "Long known as the poorest country in the Western hemisphere, Haiti has stumbled from one crisis to another since the Duvalier years."
The economy of Jamaica is heavily reliant on services, accounting for 71% of the country's GDP. Jamaica has natural resources and a climate conducive to agriculture and tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from sugar, and bananas.
The economy of Laos is a lower-middle income developing economy. Being one of the socialist states, the Lao economic model resembles the Chinese socialist market and/or Vietnamese socialist-oriented market economies by combining high degrees of state ownership with openness to foreign direct investment and private ownership in a predominantly market-based framework.
The economy of Mongolia has traditionally been based on agriculture and livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production. Soviet assistance, at its height one-third of Gross domestic product (GDP), disappeared almost overnight in 1990–91, in the time of the collapse of the Soviet Union. Mongolia was driven into deep recession.
The economy of Nicaragua is focused primarily on the agricultural sector. Nicaragua itself is the least developed country in Central America, and the second poorest in the Americas by nominal GDP. In recent years, under the administrations of Daniel Ortega, the Nicaraguan economy has expanded somewhat, following the Great Recession, when the country's economy actually contracted by 1.5%, due to decreased export demand in the American and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth. The economy saw 4.5% growth in 2010 thanks to a recovery in export demand and growth in its tourism industry. Nicaragua's economy continues to post growth, with preliminary indicators showing the Nicaraguan economy growing an additional 5% in 2011. Consumer Price inflation have also curtailed since 2008, when Nicaragua's inflation rate hovered at 19.82%. In 2009 and 2010, the country posted lower inflation rates, 3.68% and 5.45%, respectively. Remittances are a major source of income, equivalent to 15% of the country's GDP, which originate primarily from Costa Rica, the United States, and European Union member states. Approximately one million Nicaraguans contribute to the remittance sector of the economy.
The economy of Tanzania is a lower-middle income economy that is overwhelmingly dependent on agriculture. Tanzania's economy has been transitioning from a planned economy to a market economy since 1985. Although total GDP has increased since these reforms began, GDP per capita dropped sharply at first, and only exceeded the pre-transition figure in around 2007.
The economy of Yemen has significantly weakened since the breakout of the Yemeni Civil War and the humanitarian crisis, which has caused instability, escalating hostilities, and flooding in the region. At the time of unification, South Yemen and North Yemen had vastly different but equally struggling underdeveloped economic systems. Since unification, the economy has been forced to sustain the consequences of Yemen's support for Iraq during the 1990–91 Persian Gulf War: Saudi Arabia expelled almost 1 million Yemeni workers, and both Saudi Arabia and Kuwait significantly reduced economic aid to Yemen. The 1994 civil war further drained Yemen's economy. As a consequence, Yemen has relied heavily on aid from multilateral agencies to sustain its economy for the past 24 years. In return, it has pledged to implement significant economic reforms. In 1997 the International Monetary Fund (IMF) approved two programs to increase Yemen's credit significantly: the enhanced structural adjustment facility and the extended funding facility (EFF). In the ensuing years, Yemen's government attempted to implement recommended reforms: reducing the civil service payroll, eliminating diesel and other subsidies, lowering defense spending, introducing a general sales tax, and privatizing state-run industries. However, limited progress led the IMF to suspend funding between 1999 and 2001.
Poverty is a state or condition in which one lacks the financial resources and essentials for a certain standard of living. Poverty can have diverse environmental, legal, social, economic, and political causes and effects. When evaluating poverty in statistics or economics there are two main measures: absolute poverty compares income against the amount needed to meet basic personal needs, such as food, clothing, and shelter; relative poverty measures when a person cannot meet a minimum level of living standards, compared to others in the same time and place. The definition of relative poverty varies from one country to another, or from one society to another.
The poverty threshold, poverty limit, poverty line, or breadline is the minimum level of income deemed adequate in a particular country. The poverty line is usually calculated by estimating the total cost of one year's worth of necessities for the average adult. The cost of housing, such as the rent for an apartment, usually makes up the largest proportion of this estimate, so economists track the real estate market and other housing cost indicators as a major influence on the poverty line. Individual factors are often used to account for various circumstances, such as whether one is a parent, elderly, a child, married, etc. The poverty threshold may be adjusted annually. In practice, like the definition of poverty, the official or common understanding of the poverty line is significantly higher in developed countries than in developing countries.
Salamat is one of the 23 regions of Chad, located in the south-east of the country. The region's capital is Am Timan. It corresponds to the former prefecture of the same name.
Poverty in India remains a major challenge despite overall reductions in the last several decades as its economy grows. According to an International Monetary Fund paper, extreme poverty, defined by the World Bank as living on US$1.9 or less in purchasing power parity (PPP) terms, in India was as low as 0.8% in 2019, and the country managed to keep it at that level in 2020 despite the unprecedented COVID-19 outbreak. According to the World Bank, India experienced a significant decline in the prevalence of extreme poverty from 22.5% in 2011 to 10.2% in 2019. A working paper of the bank said rural poverty declined from 26.3% in 2011 to 11.6% in 2019. The decline in urban areas was from 14.2% to 6.3% in the same period. The poverty level in rural and urban areas went down by 14.7 and 7.9 percentage points, respectively. According to United Nations Development Programme administrator Achim Steiner, India lifted 271 million people out of extreme poverty in a 10-year time period from 2005–2006 to 2015–2016. A 2020 study from the World Economic Forum found "Some 220 million Indians sustained on an expenditure level of less than Rs 32 / day—the poverty line for rural India—by the last headcount of the poor in India in 2013."
Poverty is measured in different ways by different bodies, both governmental and nongovernmental. Measurements can be absolute, which references a single standard, or relative, which is dependent on context. Poverty is widely understood to be multidimensional, comprising social, natural and economic factors situated within wider socio-political processes.
Bangladesh is an under-devoloped nation. Despite rapid economic growth, poverty remains a major issue. However, poverty has declined sharply in recent history. Shortly after its independence, approximately 90% of the population lived under the poverty line. However, since economic reforms and trade liberalization of early 1990s, along with accelerated economic growth since early-2000s, Bangladesh have experienced a dramatic progress in reducing poverty. The remarkable progress in poverty alleviation has been recognized by international institutions. According to World Bank, more than 33 million Bangladeshi people have been lifted out of poverty since 2000; as measured by the percentage of people living on the equivalent of US$1.90 or less per day in 2011 purchasing price parity terms.
Poverty in Niger is widespread and enduring in one of the world's most impoverished countries. In 2015, the United Nations (UN) Human Development Index ranked Niger as the second least-developed of 188 countries. Additionally, in 2015 the Global Finance Magazine ranked Niger 7th among the twenty-three poorest countries in the world. Two out of three residents live below the poverty line and more than 40 percent of the population earn less than $1 a day. Civil war, terror, illness, disease, poverty and hunger plague Niger. Hunger is one of the most significant problems the population faces daily. With a national population of 19,899,120, 45.7% of this population live below the poverty line.
Colombia has a long-standing relationship with the World Bank that started in 1946 when the country signed the IBRD Articles of Agreement. During the early years of the World Bank, which was founded in 1945, Colombia served as a main strategic partner when the focus of the institution shifted from the reconstruction of Europe to assisting the development in poor countries. The subsequent cooperation between the World Bank and the country has led to a variety of different projects being implemented. As of November 2018 there has been to a total of over 280 projects, of which 20 are presently active, in an array of sectors such as assistance of the central government, the sub-national government and social protection. The current active commitment amount is US$2.3 billion.
Sustainable Development Goal 1, one of the 17 Sustainable Development Goals established by the United Nations in 2015, calls for the end of poverty in all forms. The official wording is: "No Poverty". Member countries have pledged to "Leave No One Behind": underlying the goal is a "powerful commitment to leave no one behind and to reach those farthest behind first".
References
- ↑ World Bank extreme poverty forecasts.
- 1 2 World Bank; International Monetary Fund (2016). Global Monitoring Report 2015/2016: Development Goals in an Era of Demographic Change. Washington, DC: World Bank. p. 6. doi: 10.1596/978-1-4648-0669-8 . hdl:10986/22547. ISBN 978-1-4648-0669-8.
- ↑ "World Bank: Extreme poverty 'to fall below 10%'". BBC News . 5 October 2015. Retrieved 7 May 2024.
- ↑ "World Bank set to redefine extreme poverty as living on $1.90 a day". Canadian Broadcasting Corporation . 24 September 2015. Retrieved 7 May 2024.
- ↑ Mayeda, Andrew (6 October 2015). "Global extreme poverty poised to hit record low, World Bank says". Chicago Tribune . Archived from the original on 4 November 2015.
- ↑ "Millions to be thrown into poverty as World Bank shifts threshold". The Daily Telegraph . 24 September 2015. Retrieved 7 May 2024.
- ↑ Taylor, Adam (5 October 2015). "For the first time, less than 10 percent of the world is living in extreme poverty, World Bank says". The Washington Post . ISSN 0190-8286 . Retrieved 7 May 2024.