For the World Bank, global extreme poverty fell

For the World Bank, global extreme poverty fell -

The number of people living in extreme poverty in the world will be reduced to 702 million by the end of 2015, compared to 02 million recorded in 2012 and for the first time in history, represent less than ten percent of the total world population, reaching 9.6%, said today World Bank (BM).

in this regard, the chairman of BM Jim Yong Kim , said: "these projections show that we are the first generation in the history of mankind that can end extreme poverty" .

Meanwhile, the chief economist of the institution, Kaushik Basu said that 0 million people were lifted out of extreme poverty, occurred in all regions of the world: in East Asia Pacific rose from 7.2 percent to 4.1 percent; in Latin America, from 6.2 percent to 5.6 percent; in South Asia, 18.8 percent to 13.5 percent; and sub-Saharan Africa fell from 42.6 percent to 32.5 percent.

Also, the economist pointed out that this decline is due to "the expansion recorded by India," referring to high rates growth of the economy of that country.

on the other hand, the WB said the concentration of poverty flowed from Asia, which had in 190 with half of the world's poor and that today would reach 15 %, sub-Saharan Africa and argued that despite the low, poverty is being done "deeper and rooted in countries affected by conflicts or excessively dependent on exports of raw materials" and warned of excessive population growth in the African continent.

at the same time, the WB insisted that these developments are "threatened" by economic stagnation emerging countries, the volatility of markets and increased financing costs for the imminent rise of interest rates by the US Federal Reserve.

this time, in addition, the World Bank announced that it had updated the threshold of extreme poverty, which so far stood at $ 1.25 a day, to $ 1.0 a day to incorporate "new information about the differences in the cost of living between countries."

Kim concluded by calling to set aside the "trickle-down economics" that inclusive growth and urged that tax collection more equitable in developing countries to prevent evasion by the wealthy.

Source: Telam

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