This brief article is a continuation of our profound evaluation of the weakest economic conditions in the world. If you want to see which countries’ financial conditions are stretched thin and why, read 40 Countries With Highest Rates Of Poverty.
10. Malawi
Below $2.15 Poverty Rate: 50.7%
Malawi’s GDP is $11.277 billion, and there has been no major difference in the country’s poverty stats over the past decade. Droughts and floods severely affect the country, eventually making the population food insecure. Also, because of such intense food shortages and extreme weather conditions, the government is left with limited resources to invest in educating and empowering people.
9. Rwanda
Below $2.15 Poverty Rate: 52%
Rwanda’s GDP has seen a surge of $4 billion in 5 years, but it wasn’t sufficient to overpower the looming threat of poverty. Unlike some other African countries, Rwanda isn’t blessed with natural resources and continues to battle poverty. The country’s high population growth rate also adds to this poverty.
8. Guatemala
Below $2.15 Poverty Rate: 54%
Another country on our list of countries with the highest rates of poverty is Guatemala. The country has a high poverty rate by country as per the World Bank, currently totaling 54%. The nation’s GDP is $85.99 billion, and its population is almost 18 million. Comprehensive policy reform, along with investments in education and infrastructure, is critical to breaking Guatemala’s cycle of poverty.
7. Zambia
Below $2.15 Poverty Rate: 61.4%
According to the World Bank, Zambia’s poverty rate currently stands at 61.4% because of limited economic diversification in the country. The country’s GDP is recorded to be $29.272 billion in 2023.
6. Democratic Republic Of Congo
Below $2.15 Poverty Rate: 62%
The Democratic Republic of Congo has stark poverty, where 62% of its population lives on less than $2.15 daily. Such widespread destitution hinders human development, obstructs access to basic needs, and perpetuates poverty.
5. Mozambique
Below $2.15 Poverty Rate: 64.6%
Mozambique’s GDP in 2023 is $19.909 billion in 2023, up from $14.8 billion in 2018. However, owing to decreased foreign investment and natural disasters, the country is struggling with a high poverty rate. Also, as per the Borgen Project, a huge percentage of those living in the rural areas of Mozambique remain poor because they are cut off from the larger economic landscape.
4. Somalia
Below $2.15 Poverty Rate: 70%
According to the World Bank, nearly 90% of Somali people face multidimensional poverty, while 70% are living below the poverty line. The country’s current GDP is $8.733 billion, according to the IMF, which is meager, given the country’s 17 million population.
3. Madagascar
Below $2.15 Poverty Rate: 70.7%
Madagascar’s population is touching 30 million in 2023, but its GDP is barely $15 billion. These stark differences result in nearly two-thirds of the population living below the poverty line. As of 2023, over 70% of its inhabitants subsist on less than $2.15 a day. This grim reality stems from restricted access to education, persistent political instability, and inadequate infrastructure.
2. Central African Republic
Below $2.15 Poverty Rate: 71%
According to the World Bank’s 2020 estimates, nearly 71% of the population in the Central African Republic was living below the poverty line. These facts can be proven by the country’s meager GDP of $2.736 billion in 2023. Despite efforts by international organizations to contain the situation, CAR has one of the world’s most severe humanitarian crises.
1. South Sudan
Below $2.15 Poverty Rate: 76.4%
Although South Sudan’s GDP has grown from $3 billion in 2018 to around $7 billion in 2023, a huge portion of the country’s population still lives in extreme poverty. Conflict, displacement, and external involvement are said to be the biggest causes of South Sudan’s feeble economy. Also, according to the World Bank, poverty in the country is primarily rural as the population lacks access to better work opportunities that can raise their buying power.
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