In the past 30 years, global poverty has dramatically decreased from nearly 2 billion people living in extreme poverty in 1990 to around 692 million today. However, many of the poverty alleviation metrics used, particularly by major institutions like the World Bank and IMF, are criticized for being fundamentally flawed. Critics argue that the chosen international poverty line of $2.15 per day is too low and does not accurately reflect the cost of basic necessities, suggesting that millions who are labeled as ‘out of poverty’ still lack essential resources for life.
The reduction of extreme poverty from nearly 2 billion in 1990 to 692 million today showcases significant progress, yet flawed metrics obscure the reality for many still deprived.
Despite significant financial commitment, the reliance on a low poverty threshold has led to misleading conclusions about poverty alleviation and the true extent of human deprivation.
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