Browsing: Challenges to eliminating extreme poverty by 2030 due to global crises

• The IMF and the World Bank are sounding a warning that global authorities are falling off course in their endeavors to eradicate extreme poverty by 2030.
• Growing income disparity between rich and poor nations is effectively undermining hopes of eliminating extreme poverty on a global scale.
• In response, policymakers are calling for a multilateral strategy to safeguard countries from the economic challenges stemming from ongoing global crises.

Global financial experts from the International Monetary Fund (IMF) and the World Bank are sounding a warning that authorities are veering off course in their efforts to eradicate extreme poverty by 2030. According to these international organizations, weaker economies are becoming increasingly vulnerable to external shocks, which are disproportionately affecting emerging markets and developing economies.

Simultaneously, the gap in income levels between affluent and impoverished nations is growing more pronounced, effectively diminishing the prospects of achieving the goal of eliminating extreme poverty by …