• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Global progress in poverty reduction stalled, says Pierre Laporte

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
65
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Global progress in poverty reduction stalled, says Pierre Laporte

World Bank Country Director for Ghana, Liberia, and Sierra Leone, Pierre Laporte, has shed light on the persistent challenge of extreme poverty in certain regions and the concerning lack of progress in global poverty reduction. Mr. Laporte made these remarks at the World Bank’s End Poverty Day Celebration on October 18, 2023.

Mr Laporte emphasized that extreme poverty is disproportionately concentrated in areas where eradication is most challenging, including parts of Sub-Saharan Africa, conflict-affected zones, and rural regions. A particularly grim outlook looms over approximately half of the global population, who subsist on less than $6.85 per day, a measure typically associated with upper-middle-income countries.

Notably, nearly 700 million people worldwide are currently living in extreme poverty, defined as surviving on less than $2.15 per day. Of this population, slightly over half resides in Sub-Saharan Africa. Mr Laporte stressed that global progress in reducing poverty has stalled, with around three years of lost progress since 2020, as various shocks and crises disrupted the trajectory.

At the midpoint of the Sustainable Development Goals (SDGs), the world is off track in its efforts to eliminate extreme poverty by 2030. Projections indicate that nearly 600 million people will still be grappling with extreme poverty by that time if current rates of progress persist.

Turning his attention to Ghana, Mr Laporte highlighted that over a quarter of Ghanaians live on less than $2.15 per day, underscoring the challenges of extreme poverty in the country. He also acknowledged the adverse impact of inflation on household purchasing power, a consequence of income not keeping pace with rising prices. Ghana’s recent economic difficulties have likely exacerbated the poverty situation.

In response to the current crisis and the need to restore macroeconomic stability,he emphasized the necessity for Ghana to implement structural reforms that safeguard long-term growth prospects and enhance economic resilience.

RelatedPosts

GRTCC Suspends 20% Transport Fare Hike Following Talks with Transport Ministry

BoG Postpones National Launch of Cedi@60 Anniversary Following Helicopter Tragedy

Japanese Automakers Toyota and Honda Take a Big Hit From Trump’s Tariffs

These reforms should encompass policies supporting investment and human capital development, particularly within the agriculture and food systems. Targeted investments can contribute to job creation, reduced income inequality, and enhanced productivity.

Mr Laporte stressed that policymakers must intensify their efforts to bolster their economies while safeguarding the most vulnerable segments of society, with a focus on creating employment opportunities.

Tags: Global progress in poverty reduction stalledPierre LaportePoverty reductionsays Pierre Laporte
No Result
View All Result

Highlights

Multichoice Ghana Faces Licence Suspension Over Refusal to Cut DStv Prices as Deadline Expires Today

Oil Prices Rise After Trump Targets India’s Imports

Foreign Capital Inflows Into Banking Sector Hit Five-Year High in 2024

Electricity is Getting Cheaper Across Africa

Summary of Events Following Confirmation of Deaths of Defence and Environment Ministers, Six Others in Military Helicopter Crash

FDI Rises to 3-Year High as Reforms Boost Investor Confidence

Trending

Business

GRTCC Suspends 20% Transport Fare Hike Following Talks with Transport Ministry

August 7, 2025

GRTCC Suspends 20% Transport Fare Hike Following Talks with Transport Ministry The Ghana Road Transport Coordinating Council...

Bank of Ghana

BoG Postpones National Launch of Cedi@60 Anniversary Following Helicopter Tragedy

August 7, 2025

Japanese Automakers Toyota and Honda Take a Big Hit From Trump’s Tariffs

August 7, 2025

Multichoice Ghana Faces Licence Suspension Over Refusal to Cut DStv Prices as Deadline Expires Today

August 7, 2025

Oil Prices Rise After Trump Targets India’s Imports

August 7, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.