Last week we had World Food Day on October 16 and World Poverty Day on October 17. The good news from World Poverty Day is that there is global progress on reducing extreme poverty. Based on the latest available data, it is estimated that in 2015 there were 736 million people living on less than US$1.90/day, which compares very favorably to the 1,895 million people living in extreme poverty in 1990. And while the world’s population grew from 5.3 billion in 1990 to 7.4 billion in 2015, the poverty rate fell from 36 percent to 10 percent or 1 percentage point per year on average over this period.
At the same time, progress in reducing extreme poverty has been uneven. There have been sharp reductions in absolute numbers in East Asia and the Pacific and in South Asia, but the number of people living in extreme poverty in Sub-Saharan Africa has increased significantly.