World Bank: ‘Extreme Poverty’ to Fall Below 10% of World Population for First Time
The number of people living in extreme poverty is likely to fall for the first time below 10% of the world’s population in 2015, the World Bank said on Sunday as it revised its benchmark for measuring the problem.
“This is the best story in the world today,” said World Bank president Jim Yong Kim. “These projections show us that we are the first generation in human history that can end extreme poverty.”
Extreme poverty has long been defined as living on or below $1.25 a day, but the World Bank’s adjustment now sets the poverty line at $1.90 a day.