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Bob Sample - Ending Ultra-Poverty - Workshop Results14 days ago
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The road to ending poverty runs through 31 severely off track countries24 days ago
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Global Publications
Bob Sample - Ending Ultra-Poverty - Workshop Results14 days ago
President Jim Louttit's Welcoming Remarks18 days ago
Alex Counts Summary of Ultra Poverty Summit19 days ago
Mary Coward - Guatemala Business Training for Women20 days ago
More
Microcredit
Bob Sample - Ending Ultra-Poverty - Workshop Results14 days ago
President Jim Louttit's Welcoming Remarks18 days ago
Alex Counts Summary of Ultra Poverty Summit19 days ago
Mary Coward - Guatemala Business Training for Women20 days ago
The road to ending poverty runs through 31 severely off track countries24 days ago
More
The Start of a New Poverty Narrative
Category: Microcredit | By SDR, 25-Jul-2018 | Viewed 107  Comments 0 | Source Homi Kharas & Kristofer Hamel

The Start of a New Poverty Narrative



Posted on the Brookings Institute
July 2, 2018

Last September (2017), the Bill & Melinda Gates Foundation released its annual Goalkeeper's report, highlighting the extraordinary progress made in reducing extreme poverty around the world, while also warning that sustaining this progress would not be easy.

We now have the first actual data points that ring the alarm bells about a new, unfolding story on global poverty reduction that is far less favorable than pieces such as Nick Kristof's New York Times column "Why 2017 was the best year in human history." These new data are available courtesy of the World Poverty Clock, a web tool produced by World Data Lab with which the three of us are associated. (A paper presenting the methodology underpinning the World Poverty Clock has been published by Nature's Palgrave Communications journal.)

Each April and October, the World Poverty Clock data are updated to take into account new household surveys (an additional 97 surveys were made available this April) and new projections on country economic growth from the International Monetary Funds's World Economic Outlook. These form the basic building blocks for poverty trajectories computed for 188 countries and territories, developed and developing, across the world.

The data highlight two new storylines about what is happening to global extreme poverty.
FIRST: EXTREME POVERTY IN TODAY'S WORLD IS LARGELY ABOUT AFRICA
According to our projections, Nigeria has already overtaken India as the country with the largest number of extreme poor in early 2018, and the Democratic Republic of the Congo could soon take over the number 2 spot (Figure 1 below). At the end of May 2018, our trajectories suggest that Nigeria had about 87 million people in extreme poverty, compared with India's 73 million. What is more, extreme poverty in Nigeria is growing by six people every minute, while poverty in India continues to fall. In fact, by the end of 2018 in Africa as a whole, there will probably be about 3.2 million more people living in extreme poverty than there are today.

Already, Africans account for about two-thirds of the world's extreme poor. If current trends persist, they will account for nine-tenths by 2030. Fourteen out of 18 countries in the worldwhere the number of extreme poor is rising"are in Africa.

619_935855600.jpg
India moving down in Poverty Rankings


Click on graphic image to enlarge.


More . . . 


Note: For questions on the underlying data model and access to the data please contact Kris Hamel (kristofer.hamel@worlddata.io).
Future Development

This blog was first launched in September 2013 by the World Bank in an effort to hold governments more accountable to poor people and offer solutions to the most prominent development challenges. Continuing this goal,

Future Development was re-launched in January 2015 at brookings.edu.
For archived content, visit worldbank.org

Authors:

Homi Kharas
Interim Vice President and Director -Global Economy and Development

Kristofer Hamel
Chief Operating Officer - World Data Lab

Martin Hofer
Research Analyst - World Data Lab

See entire article at:
http://ragm.org/docs/The%20Start%20of%20a%20New%20Poverty%20Narrative%20%20World%20Poverty%20Clock_340.pdf
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