#POVERTY

In fall 2022, the World Bank will update the International Poverty Line from $1.90 to $2.15. This means anyone living on less than $2.15 is in “extreme poverty.” Why the change? Increases in the costs of food, clothing, and shelter between 2011-2017 make the “real value of $2.15 in 2017 prices equal to $1.90 in 2011 prices. As for the World Bank’s goal to reduce extreme poverty to 3% or less by 2030, the pandemic has made it even harder. Extreme poverty isn’t the only poverty we have to contend with. 62% of the global population lives on less than $10/day. While there’s been progress over the years, the end of poverty is still far off.