There has been marked progress on reducing poverty over the past decades. According to the most recent estimates, in 2015, 10 percent of the world’s population lived on less than $1.90 a day, down from nearly 36 percent in 1990. Progress has been uneven, and the number of people in extreme poverty remains unacceptably high. Given growth forecasts, the world is not on track to end extreme poverty by 2030.
Today, less than 10 percent of the world population lives in extreme poverty. Based on information about basic needs collected from 15 low-income countries, the World Bank defines the extreme poor as those living on less than $1.90 a day. However, because more people in poverty live in middle-income, rather than low-income, countries today, higher poverty lines have been introduced. These lines are $3.20 and $5.50 a day, which are more typical of poverty thresholds for middle-income countries. Read More.
Globally, extreme poverty has rapidly declined. New poverty estimates by the World Bank suggest that the number of extremely poor people — those who live on $1.90 a day or less — has fallen from 1.9 billion in 1990 to about 736 million in 2015. Read More.
Recognizing the incompleteness of the so called monetary measure of well-being, this year’s Poverty and Shared Prosperity Report proposes a multidimensional poverty measure. It adds deprivations in education (child school enrollment and adult school attainment) and access to basic infrastructure (drinking water, sanitation and electricity) to the consumption measure to construct a more complete picture of poverty. With this broader definition of poverty, many more people come into view as poor. Read More.