United nations estimates that over 1 billion people worldwide live in extreme poverty. the world bank defines extreme poverty as living on less than $1.90 per day, and the majority of people living in extreme poverty are found in sub-saharan africa. in 2018, the world bank reported that the global poverty rate had declined to 8.6%, and the world bank estimates that the number of people living in extreme poverty will fall to under 500 million by 2030.
Covid-19 pandemic has had a devastating impact on poverty levels, with an estimated 100-150 million people projected to fall into extreme poverty in 2020. the international monetary fund (imf) estimates that the global economy will shrink by 4.9% in 2020 due to the pandemic, and estimates that global poverty will rise to 9.2% in 2020. the world bank has warned that the pandemic could push an additional 88-115 million people into extreme poverty in 2021.
Is linked to a range of health issues, including malnutrition, infectious diseases, and infant mortality, as well as a lack of access to education, clean water, and sanitation. inequality is a major factor in poverty, as the wealthy are able to access resources that the poor cannot. climate change is expected to have a significant impact on poverty, particularly in developing countries. as a result, the united nations has set a goal of ending extreme poverty by 2030, and governments, charities, and other organizations are working to reduce poverty through initiatives such as microfinance and job creation.