WB warns of growing poverty in Latin America
(VOVworld) – The World Bank has reported that poverty reduction in Latin America has been slowing down since 2012.
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A poor child in Oaxaca city, Mexico (Photo: Reuters)
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The region continues to lay behind in access to basic services by vulnerable groups like children. In the period 2000-2014, the rate of extreme poverty (income less than 2.5 USD/day) decreased there from 25.5% to 10.8%. But the decrease has slowed since 2012 because of the weak global economy. Latin America has one of the highest rates of inequality in the world. Its achievements in poverty reduction are being threatened by the lingering economic recession.