The Persistent Crisis of Global Poverty

Today, nearly 700 million people (8.5% of the global population) survive in extreme poverty—living on less than $2.15 per day. Progress has slowed due to sluggish economic growth, the lingering effects of COVID-19, and rising instability. In low-income nations, poverty rates are now worse than pre-pandemic levels.

A Broader Measure of Poverty

When using a more relevant benchmark for upper middle-income countries—$6.85 per day—around 3.5 billion people (44% of the global population) remain impoverished. Shockingly, the number of people below this threshold has barely shifted since the 1990s, largely due to population growth outpacing economic gains.

Sub-Saharan Africa—The Epicentre of Extreme Poverty

In 2024, Sub-Saharan Africa was home to 16% of the world’s population but a staggering 67% of those living in extreme poverty. Two-thirds of the global extreme poor reside in this region, a figure that jumps to three-quarters when including fragile and conflict-affected states. Additionally, 72% of the world’s extreme poor live in countries eligible for support from the International Development Association (IDA).

A Bleak Outlook for 2030

If current trends continue, 622 million people (7.3% of the global population) will still endure extreme poverty by 2030. This means only 69 million people are expected to escape poverty between 2024 and 2030—far fewer than the 150 million who did so between 2013 and 2019. Meanwhile, 3.4 billion people (nearly 40% of the world’s population) will likely remain below the $6.85 per day threshold.

The Urgent Need for Inclusive Growth

Without faster and more equitable economic expansion, eliminating extreme poverty could take decades, while lifting people above $6.85 per day may require over a century. To accelerate progress, governments must focus on:

• Boosting labor incomes by creating better jobs and investing in education.
• Strengthening infrastructure and basic services to help people benefit from growth.
• Enhancing resilience to protect vulnerable populations from economic shocks.

The road ahead is steep, but targeted policies and global cooperation can help break the cycle of poverty and build a fairer future.