IMF Says Extreme Poverty to Increase Due to Global Downturn

According to the IMF/World Bank, we will likely stay at over 1 billion people who are in extreme poverty, as defined by less than $1.25 of income per day – the absolute minimum required to feed one person.

In addition, many tens of millions more will likely be added to this number.

There is also an article at BusinessWorld online which states “Developing economies are unlikely to meet a 2015 deadline set by the United Nations for globally agreed goals of halving extreme poverty and improving worldwide social conditions, the World Bank said yesterday.”

However, it seems to contradict itself a few paragraphs later:

“With extreme poverty projected to fall to 15% by 2015, it still appears the target will be met, but this may change as the poverty reduction rate slows with declining growth,” the World Bank report read.

So which is it?

You can read the statement here: World Bank Report (new window) and there is a link on the left to the full report.

© 2009, Mark Wells. All rights reserved.

This entry was posted on Friday, April 24th, 2009 at 9:50 AM and is filed under Education, Food/Housing, Front Page, Gender Equity, Health. You can follow any responses to this entry through the RSS 2.0 feed.