Global poverty is still a massive problem – no matter how you count it

The Fight Against Global Poverty: A Report on Sustainable Development Goals

The world must return its focus to the fight against global poverty. The Covid-19 pandemic pushed millions more into extreme poverty while the global economic recovery thereafter has seen poorer countries left behind. The World Bank says the first of the Sustainable Development Goals to end extreme poverty by 2030 will not be met, projecting 574 million people – nearly 7 percent of the world – to still be living on less than US$2.15 a day, or what is known as the extreme poverty line.

The Current State of Global Poverty

1. The Covid-19 pandemic has exacerbated global poverty, with millions more people being pushed into extreme poverty.
2. The World Bank estimates that in 2022, there were about 70 million more people living in extreme poverty due to the impacts of the pandemic and other factors.
3. Poverty remains widespread, with approximately 574 million people living on less than US$2.15 a day.

Progress and Challenges

While progress has been made in reducing extreme poverty over the past three decades, challenges remain.

• In 1990, more than 70% of China’s population was living in extreme poverty. By 2019, it was virtually zero.
• Sharp declines in extreme poverty also occurred in places such as Indonesia and Vietnam.
• However, the majority of extreme poverty is now concentrated in sub-Saharan Africa.
• Eradicating extreme poverty is getting harder as it is increasingly concentrated in countries with weak governance, conflict zones, and among marginalized groups.

A Broader Perspective on Poverty

It’s important to look beyond the extreme poverty numbers and consider higher poverty lines.

• The World Bank recommends using $3.65 a day for lower middle-income countries and $6.85 a day for upper middle-income countries.
• Using $6.85 a day as a benchmark, approximately 3.6 billion people still lived in poverty in 2019.
• Poverty is not only a problem in sub-Saharan Africa but also in regions like East Asia and South Asia.

The Way Forward

The fight against global poverty is far from over, even in countries seemingly doing well. As the world economy recovers from recent shocks, renewed global progress on sustainable development goals is crucial for improving human wellbeing.

SDGs, Targets, and Indicators

1. SDG 1: No Poverty

   • Target 1.1: By 2030, eradicate extreme poverty for all people everywhere, currently measured as people living on less than $1.25 a day.
   • Indicator 1.1.1: Proportion of the population living below the international poverty line, by sex, age, employment status, and geographical location (urban/rural).

The article highlights the issue of global poverty and the failure to meet the Sustainable Development Goal of ending extreme poverty by 2030. It mentions that the World Bank projects that nearly 7 percent of the world’s population will still be living on less than $2.15 a day, which is below the extreme poverty line. This aligns with SDG 1, which aims to eradicate poverty in all its forms and dimensions. The specific target under SDG 1 that can be identified is Target 1.1, which focuses on eradicating extreme poverty for all people everywhere. The indicator mentioned in the article is Indicator 1.1.1, which measures the proportion of the population living below the international poverty line.

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: lowyinstitute.org

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