To meet the goal of eliminating extreme poverty and helping poor countries remove the gap between the rich and poor, the International Monetary Fund renews its campaign.
The IMF warns that the gap between rich and poor is deterring the Fund’s objective of removing extreme poverty by 2030. It highlighted that people living in the extreme poverty benchmark — those who earn $1.90 or less a day, had continued to fall despite global economic woes.
However, it said the speed is not enough as nations would have to meet certain goals that would increase the removal of 100 million living in poverty to more than 200 million in the coming years.
According to IMF President Jim Yong-Kim:
“It’s remarkable that countries have continued to reduce poverty and boost shared prosperity at a time when the global economy is underperforming – but still far too many people live with far too little,” said Kim.
“Unless we can resume faster global growth and reduce inequality, we risk missing our World Bank target of ending extreme poverty by 2030. The message is clear: to end poverty, we must make growth work for the poorest, and one of the surest ways to do that is to reduce high inequality, especially in those countries where many poor people live.”