Poverty Rates Declining Significantly, Says Report

Poverty Rates Declining Significantly, Says Report

In a recent study conducted by the Oxford University, it has been revealed that world's poorest people are now becoming less poor with rise in development rates in the countries.

According to the report in the Guardian, if development continues at same rate, poverty shall be eliminated from most poor countries like Nepal, Rwanda and Bangladesh within next 20 years. It has been, therefore, concluded that world poverty is decreasing.

The study measured the poverty levels using the Multidimensional Poverty Index (MPI). It includes indicators like years of schooling, water availability, nutrition and child mortality. "'Using this measure, we found that reductions in intensity -percentage of deprivations people experience at the same time - were strongest in relatively poorer countries, such as Ethiopia, Malawi and Senegal", said Dr. Sabina Alkire, the study author.

UN's development report released last week affirmed that world was going through "global re-balancing" with increased growth in about 40 poor countries.

The study was undertaken by Oxford Poverty and Human Development Initiative (OPHI) which asserted that Nepal, Rwanda and Bangladesh were leading all the poor countries in elimination of poverty. They were followed by Ghana, Tanzania, Cambodia and Bolivia.

According to OPHI data for 2013, some 1.6 billion people are living in multidimensional poverty that roughly mounts to 30% of the total population of 104 countries which were assessed.