International News

Breaking News

Poverty, inequality high in Africa-World Bank

By Arthur Douglas
Poverty and inequality in Liberia
Poverty and inequality in Liberia

(mylbsonline.com/Liberia/ Oct.11/2013)-The World Bank says poverty and inequality remain unacceptably high in Africa, despite strong economic growth on the continent.

According to the World Bank’s new edition of Africa’s pulse, African countries are among the fastest-growing in the world, with almost one third of them growing at the pace of at least 6%.

However, the bi-annual analysis of the issues shaping Africa’s economic prospects states that the pace of poverty reduction is unacceptably slow.

The Africa pulse predicts that poverty rate will fall between 16 and 30 by 2030, adding that most of the world’s poorest people will be in Africa in the same year.

World Bank Group’s Vice President for Africa said: “Sustaining Africa’s strong growth over the longer term while strengthening resilience to adversity may prove difficult, due to uncertainties.”

Mr. Makhtar Diop named some of the uncertainties as natural disasters such as droughts, floods and conflicts.

Meanwhile, the Africa Pulse also noted: “A growing number of African countries are setting up social safety to protect the health and livelihoods of vulnerable people during periods of adversity.”

 


Copyright 2012 Mylbsonline.com All Rights Reserved.