692 million people globally lived on less than $2.15 per day

in Economics3 days ago

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While there are millionaires and billionaires there is another part of the world where people lived less than $2.5 per day and even less than a dollar per day.

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According to India Times' February report above are the poorest countries in the world with some of those countries having more than half of their population living below the poverty line.

The major cost of poverty in most of these countries ranges from political instability to climate conditions, conflict and so many more take for instance Burundi where the majority Farm to survive but still not enough and this makes Burundi one of the hungriest countries in Africa.

Despite the availability of valuable Resources like Gold and others in Countries like the Central African Republic suffers from natural disaster, inflation, and insufficient infrastructure.

That's the story of The majority of the countries above and the major issue which goes unnoticed is corruption in their government institutions if you check the Corruption Perceptions Index of these countries you would notice there is a strong correlation between corruption and poverty, because corruption weakens governance reduce investment and creates lots of problems.

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In the above you see that most of this country has the CPI rating of below 30 and scoring below 30 indicates severe systemic corruption.