China's Economic Boom Helps Developing Nations Reduce Poverty, IMF Says
By Nasreen Seria - Apr 15, 2011
The economic boom in China and India will help more than two-thirds of developing countries meet a 2015 goal of reducing poverty and hunger, the World Bank and International Monetary Fund said in a report.
The number of people in extreme poverty, defined as living on less than $1.25 a day, is forecast to drop to 883 million in four years from 1.4 billion in 2005 and 1.8 billion in 1990, the Washington-based lenders said in their Global Monitoring Report released today.
Much of this progress stems from economic growth in China and India, while Africa, the world’s poorest continent, has seen fewer improvements, the report said. In China, 4.8 percent of people are projected to live on less than $1.25 a day in 2015, compared with 36 percent, or 345 million, in sub-Saharan Africa, the report said.
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