Down to Earth - - THE FORTNIGHT -

THE NUM­BER of peo­ple liv­ing in ex­treme poverty has fallen be­low 10 per cent for the first time in the last two-and-a-half decades, a new World Bank re­port has re­vealed. But this fall in global poverty is largely owing to changes in de­vel­op­ing coun­tries, it notes, while low in­come coun­tries have re­mained mostly poor. World Bank Group Pres­i­dent Jim Yong Kim has ex­pressed con­cern that poverty has re­duced in de­vel­op­ing coun­tries in­stead of poor coun­tries due to strong growth rates in re­cent years. The re­port cau­tions that slow­ing down of global eco­nomic growth may chal­lenge th­ese trends.



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