Poverty rate declines in developing economies, says UN report

Chennai:

In developing regions, the percentage of people living on $1.25 a day or less has fallen from 47 per cent in 1990 to 22 per cent in 2010, according to the Millennium Development Report 2013.

The report states that 700 million fewer people are now living in conditions of extreme poverty than was the case 20 years ago. “Extreme poverty rates have fallen in every region, with China leading the way where the progress is almost unbelievable. In 1990, 60 per cent of the population living in China was extremely poor; by 2010, that number had dropped to 12 per cent,” the report said.

The report also said that over the last 21 years, more than 2.1 billion people have gained access to improved water sources increasing the percentage of the global population using such sources to 89 per cent in 2010, up from 76 per cent in 1990. Like the poverty target, the drinking water target was met five years ahead schedule, despite the increase in population growth.

Similarly, there has been amazing global progress is the fight against malaria. Between 2000 and 2010, mortality rates from malaria have fallen by more than 25 per cent globally. There’s also good news on tuberculosis. Death rates from tuberculosis at the global level will be halved by 2015. At the rate things are going, the world is on its way to halting the spread and reversing the incidence of this killing disease, the report said.

Conditions are improving for slum dwellers in the cities and metropolises of the developing world. In the last ten years, over 200 million slum dwellers have benefitted from better water sources, better sanitation facilities, and better housing. Progress has been so impressive globally on this front that 100 million more people have benefitted than the original MDG target. The Report shows that India, China and Indonesia as three large countries that are driving this trend.

The report shows that the target of cutting the number of hungry people in the world by half is within reach. Already, the proportion of undernourished people has dropped from 23 per cent in 1990 to 15 per cent.

Debt burdens are declining and the climate for trade is becoming more level.  The ratio of debt service to export revenue has dropped by 12 per cent in the past ten years. Importantly, the exports of least developed countries have benefitted the most. Average tariffs are also at an all-time low.