poorest countries in the world poorest countries in the world africa poverty | new vision
The world has enough wealth and resources to ensure a basic standard of living for all human beings. However, there are some countries where people live in abundance, while others live in extreme poverty.
It is difficult to identify a single cause of chronic poverty. Authoritarian and corrupt governments can turn a very rich country into a poor one. A history of exploitative colonization, weak rule of law, war and social unrest, and harsh climatic conditions may be the main factors behind some countries' poverty. Economists often refer to the "cycle" of poverty, for example, that a country that is heavily indebted will not be able to afford good schools, have a poorly educated workforce, and be unable to attract foreign investment.
The world's poorest country was plagued by civil war, ethnic and sectarian strife, and then COVID-19 made things worse.
Poor households around the world have suffered the worst social and economic consequences of the coronavirus pandemic in recent years. In some countries, lockdowns exacerbated unemployment and sudden reductions in income for many workers. Healthcare costs associated with the pandemic have pushed hundreds of millions of people around the world into poverty. The pandemic has also exacerbated pre-existing gender occupational disparities, pushing many women deeper into poverty.
Before the pandemic, the proportion of the world's population living in extreme poverty, defined as earning less than $1.90 a day, had fallen from 35% in 1990 to less than 10%. The pandemic has reversed this progress, with an additional 150 million people pushed into extreme poverty by the end of 2021, according to the International Monetary Fund. Meanwhile, the war in Ukraine has unleashed sharp increases in food prices and widespread supply shortages, hurting particularly poor families around the world.
How to measure the richness or poverty of countries in the world? Although GDP per capita is often considered the standard indicator, GDP per capita in terms of purchasing power parity (PPP) is more accurate than nominal GDP per capita because PPP includes the country's goods , the relative cost of services and the rate of inflation can better assess the level of purchasing power in a country.
The 10 poorest countries in the world are all in Africa, where per capita gross domestic product in purchasing power parity (PPP) terms is about $1,350. That compares to nearly $100,000 in the top 10 richest countries.
Today, New Horizons will take you to understand the 10 poorest countries in the world.
00:00 Preface
02:38 Madagascar Madagascar
04:07 Chad Chad
05:58 Malawi Malawi
07:38 Mozambique Mozambique
09:24 Niger Niger
10:52 Somali Somalia
12:19 Democratic Republic of the Congo (DRC)
14:24 Central African Republic Central African Republic
16:16 South Sudan
18:14 Burundi Burundi
19:50 end