One of the most important of human achievements has been the very significant reduction in extreme poverty experienced by men, women, and children throughout the world.
And in what is sure to be good news, the World Bank has just released a study informing us that one billion people rose out of extreme poverty since 2000, and that in spite of the global financial crisis a few years ago.
The same study reveals the heartening news that the global poverty rate, calculated as the number of people earning $1.90 or less (on an purchasing power parity international dollar basis), is estimated to have fallen into single digits this year.
In 1990, the global poverty rate was a sobering 37.1 per cent but has precipitously fallen since. This is what the World Bank had to say about this amazing achievement, in a press statement:
The number of people living in extreme poverty around the world is likely to fall to under 10 percent of the global population in 2015… giving fresh evidence that a quarter-century-long sustained reduction in poverty is moving the world closer to the historic goal of ending poverty by 2030.
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