Africa will have 27 million new poor people in 2009, World Bank reckons
The World Bank reckons that Africa will total 27 million new poor people in 2009, according to a document released by the African Development Bank (AfDB) titled “Africa and the Global crisis: Strategies to preserve the foundations of long-term growth”, and copied to APA.
With the drop of income and the staple food price hike, these new poor people will devote most of their income to food and to reducing the health and education expenses, according to the document released on the sidelines of the 10-14 May 44th AfDB Annual Meetings in Dakar.
With about 400 million people living in stark poverty in Sub-Saharan Africa, they will lose 20 percent of their income per capita in 2009, meaning US$48 per person because of the drop in growth, the document states.
In developing countries, 53 additional million people will sink into poverty, besides the 130 to 150 million people that were impoverished in 2008 because of the impact of both the food and oil crises.
Over 1.5 billion people worldwide will live with less than two dollars per day, the source forecasts, adding that concerning Africa, the ratio of working people earning less than two dollars per day will increase from 82.2 percent in 2007 to 86.6 percent in 2009.
African low-income countries which fought to improve the universal primary education will come up against the incapacity of governments to subsidise education programmes whereas the poor families will be short of financial means to ensure their offsprings’ tuitions.