Global Poverty Eradication Could Take Over a Century, World Bank Warns
The Long Road Ahead: Eradicating Global Poverty Could Take Over a Century
A new report from the World Bank paints a sobering picture of the fight against global poverty. Despite progress, achieving the goal of a world without poverty by 2030 is increasingly unlikely, with experts predicting it could take over a century.
The report, titled “Poverty and Shared Prosperity 2024: Toward a New Development Compact,” highlights the immense challenges facing the world today. A confluence of factors, including sluggish economic growth, the lingering effects of the COVID-19 pandemic, escalating debt levels, ongoing conflicts, and the growing threat of climate change, are creating significant setbacks in poverty reduction efforts.
Currently, a staggering 44% of the world’s population, nearly half, lives below the poverty line, defined