Poverty around the world

Aldo Álvarez | David Saldaña | Omar Euroza

All of the world’s poorest countries have similar characteristics; extremely fragile and underdeveloped economies that have recently gone through civil wars or are suffering from ethnic or sectarian conflicts.

Poverty, as the mathematician Eli Khamarov said, is like a punishment for a crime you haven’t committed. Dictatorial and corrupt governments make what could be a very rich nation into an incredibly poor nation. It is generally difficult to identify a single long-term cause of poverty, hence economists often refer to the "cycles" of poverty. For example, an indebted country would not be able to afford good schools, and a poorly educated workforce would be less able to solve problems and create conditions that attracted foreign investment.

Unfortunately, it is not surprising that the five poorest countries in the world are in Africa. Some of them are in the Sahel region, where persistent and widespread droughts cause food shortages and related medical and social problems. Others are landlocked, putting them at a considerable disadvantage compared to those with access to maritime trade. In addition, all have experienced political instability, disputed elections and ethnic or religious conflicts.

Central African Republic

The Central African Republic is one of the least developed countries in the world with a per capita GDP of just over $700 per year, poor communications and a nearly non-existent education and training system. The bulk of the population is engaged in subsistence agriculture, which accounts for 58 per cent of total gross domestic product.

Burundi

The member of the African Great Lakes region has been shaken by political instability in recent years due to poor governance and military coups. It also stands out as one of the most unpleasant countries in the world. The country has a population of 10.5 million people, and 81 per cent of its population lives on less than $1.25 a day. In addition, the country is frequently affected by natural disasters and life expectancy is 56 years. However, its per capita income is $758.2 and an external debt stock of 23.5% of its GNI.

Democratic Republic of Congo

Democratic Republic of the Congo is the 89th economy by volume of GDP. Its public debt in 2019 was 6,997 million euros, with a debt of 15.54% of GDP, it is among the countries with the least debt relative to GDP in the world. Its debt per capita is € 80 per inhabitant, its inhabitants are the second least indebted in the world. There are some variables that can help you to know something more if you are traveling to the Democratic Republic of the Congo or simply want to know more about the standard of living of its inhabitants. GDP per capita is a very good indicator of the standard of living and in the case of the Democratic Republic of the Congo, in 2019, it was € 512 euros, so this figure is found at the bottom of the table, in ranked 186. Its inhabitants have a very low standard of living in relation to the 196 countries in the per capita GDP ranking.