RASC News Agency: In a recent report cited by Reuters on Monday, October 14, the World Bank has highlighted that the majority of the world’s poorest nations are concentrated in Sub-Saharan Africa, including countries like Ethiopia, Chad, and the Democratic Republic of Congo. Afghanistan and Yemen also rank among these nations. The report notes that roughly 40% of the global poor reside within these regions.
The World Bank estimates that the annual household income in these impoverished countries averages around $1,145. Indermit Gill, the World Bank’s chief economist, remarked: “While many international organizations have retreated from these severely impoverished nations, the International Development Association (IDA) has remained their critical support.” Since 2006, these nations have faced rising debt burdens and are highly vulnerable to natural disasters. The World Bank has underscored that current conditions in these regions are even worse than during the COVID-19 pandemic.
This report was published just ahead of the upcoming annual meetings of the World Bank and International Monetary Fund (IMF) in Washington, D.C. A key session, hosted by the IDA, will focus on eradicating extreme poverty and mobilizing $100 billion in funding for the world’s poorest countries. The IDA, whose budget is replenished every three years by member nations, raised $93 billion in 2021 for this cause.
Since the Taliban regained power in Afghanistan, the nation’s economic situation has sharply deteriorated, with international aid diminishing and the group’s restrictive policies further compounding the struggles of Afghanistani families. Household incomes have dramatically declined in the face of this adversity.
