Poverty in Latin America and the Caribbean Continues to Decrease, but Inequality Persists
Nov 12, 2024 Photo: @cepal_onu ECLAC urges governments to implement effective policies that not only address poverty but also promote a more equitable distribution of resources to ensure a fairer future for all citizens in the region.
November 12, 2024 Hour: 5:10 pm
Despite these significant advances, ECLAC warns that there are still 172 million people in the region who do not have sufficient income to meet their basic needs. Of this group, 66 million cannot access a basic food basket, underscoring the fragility of economic recovery.
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The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) has released an encouraging report revealing a 1.5 percentage point decrease in the poverty rate in the region during 2023, reaching 27.3%. This figure represents the lowest level on record and marks a significant improvement compared to the peaks reached during the COVID-19 pandemic.
The report titled “Social Panorama of Latin America and the Caribbean 2024: Challenges of Non-Contributory Social Protection to Advance Towards Inclusive Social Development” also highlights a decline in extreme poverty, which stood at 10.6% of the population, equivalent to a reduction of 0.5 percentage points compared to the previous year.
Despite these significant advances, ECLAC warns that there are still 172 million people in the region who do not have sufficient income to meet their basic needs. Of this group, 66 million cannot access a basic food basket, underscoring the fragility of economic recovery.
The report also notes that poverty disproportionately affects working-age women and is more prevalent in rural areas compared to urban ones. Additionally, children are the most affected, with poverty rates significantly higher than those of other age groups.
However, one of the most pressing challenges facing the region is inequality. Approximately 10% of the highest-income population concentrates 66% of total wealth, while the richest 1% controls an astonishing 33%.
These figures highlight that, despite progress in reducing poverty, the fight against inequality remains a crucial challenge for inclusive social development in Latin America and the Caribbean.
ECLAC urges governments to implement effective policies that not only address poverty but also promote a more equitable distribution of resources to ensure a fairer future for all citizens in the region.
Autor: MLM
Fuente: Venezuelan Government
