Monday, March 26, 2012
[IWS] AfDB: POVERTY IS ON THE RETREAT IN AFRICA; the MARKETS; and other matters [online 26 March 2012]
IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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African Development Bank (AfDB)
Africa Economic and Financial Brief
Market Brief
Volume 3 • Issue 09
For the period of
Feb 27 - Mar 02, 2012
POVERTY IS ON THE RETREAT IN AFRICA; the MARKETS; and other matters [online 26 March 2012]
[full-text, 7 pages]
[excerpt]
Overcoming extreme poverty remains at the top of the development agenda in Africa and this commitment
is paying off but at a slower pace. Recent evidence1 indicates that poverty in Africa and in all the regions of
the world declined over the period 2005-2010. In Africa, the proportion of people living below the poverty
line decreased to 40% in 2008 from 47% in 1990, making it the first ever reversal of the long term poverty
trend (see Figure 1). However, there are disparities in the rate of decline between Africa and other regions. For
example, between 1990 and 2008, the average rate of decline in the poverty headcount for Africa was nearly
twice and three times lower at 9% relative to Asia’s 15% and Latin America’s 24%.
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