Global Poverty Declines, But Challenges Remain: World Bank Updates Poverty Line

Global Poverty Declines, But Challenges Remain: World Bank Updates Poverty Line
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The World Bank has announced an update to its international poverty line, raising the threshold from $2.15 to $3 per day for low-income countries, reflecting rising living costs and improved data on household needs, The Tanzania Times reported.

Despite progress—1.5 billion fewer people live in extreme poverty today than in 1990—an estimated 808 million still endure severe deprivation, with progress now stagnating amid economic crises, climate shocks, and conflict.

Poverty has become increasingly concentrated in Sub-Saharan Africa, while East Asia and South Asia saw dramatic reductions. Middle-income countries now host 75% of the world’s population, yet gaps persist.

The Bank’s new “Prosperity Gap” metric highlights disparities between low- and high-income nations, urging targeted policies. “Poverty is multidimensional,” experts stress, noting that non-monetary factors like access to housing and technology must be addressed. With updated data, governments aim to refine anti-poverty strategies—but at current rates, eradication could take decades.