Kenya Ranked Third Poorest Lower-Middle-Income Country Globally
Kenya is ranked the third poorest lower-middle-income country globally in a new study released by the World Bank.
The World Bank State of Economic Inclusion Report 2021 has shown that more than forty per cent of Kenyans currently live in extreme poverty.
The level of poverty is approximately 10 times higher than in Pakistan and Egypt which are also categorised as lower-middle income economies.
Zambia is the poorest with 61 per cent of its citizens living in poverty followed by Nigeria at 58 per cent while Côte d’Ivoire is fourth at 30 per cent.
Zimbabwe has a low poverty rate of 23 per cent but has a high poverty headcount at almost 80 per cent of it’s total population.
Photo: Hassan Hirsi and Warsame Gure, World Bank The Recurrent Costs and Reform Financing project has supported day-to-day functioning and financial management systems of key ministries of the federal and subnational governments in Somalia. Specifically, through its three phases, the project has supported the federal dialogue and funded basic services critical for peace building and reconstruction of the fragile state.
Challenge
After more than twenty years of conflict, Somalia is currently on a path of political stabilization and reconstruction. Important milestones include the adoption of the Provisional Constitution in 2012, peaceful presidential elections in 2012 and 2017, and an agreement on a federal political system, including the establishment of Federal Member States (FMS). However, numerous challenges prevail, such as weak government capacity, asymmetric federal structures, security concerns, human capital deficits, and low levels of state legitimacy.
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