poorest

All these extremely fragile and underdeveloped economies have
either recently been through a civil war or are suffering from
ongoing sectarian or ethnic conflicts.

Mumbai, India’s Dharavi slums.

The world has enough wealth and resources to ensure that the
entire human race enjoys a basic standard of living. Yet
people living in countries like the Central African Republic,
Burundi or the Democratic Republic of the Congo—the three poorest
in the world—continue to live in desperate poverty.

Poverty, mathematician Eli Khamarov said, is like punishment for
a crime you didn’t commit. Dictatorial and corrupt governments can
make what could be a very rich nation into a poor one. And so does
a history of exploitative colonization, weak rule of law, war
and social unrest, severe climate conditions or hostile, aggressive
neighbors. It is often hard to pinpoint a single cause of
long-term poverty, hence why economists often refer to “cycles” of
poverty. For example, a country in debt will not be able to afford
good schools, and a poorly educated workforce will be less capable
of fixing problems and creating conditions that will attract
foreign investment.

It is sadly unsurprising that all 10 of the world’s poorest
countries are found in Africa. Three of them are within the Sahel
region, where persistent and widespread droughts cause food
shortages and associated medical and social problems. Five of them
are landlocked, putting them at a considerable disadvantage
relative to those with access to maritime trade. The decline in
commodity prices in recent years has torpedoed their better chances
for progress. All have experienced political instability, disputed
elections, and ethnic or religious strife.

GDP per capita is the standard metric for measuring how
poor or wealthy a given nation is compared to another. To
compensate for differences in living costs and rates of
inflation, purchasing power parity (PPP) assess an
individual’s buying power in a particular country. The current
average in the top 10 poorest nations is $1,275.

Values are expressed in current international dollars,
reflecting a single year’s (the current year) currency exchange
rates and PPP adjustments. Data source: International Monetary
Fund, World Economic Outlook Database, April 2019.

THE 10 POOREST COUNTRIESIN THE WORLD

10. Madagascar

Current International Dollars:  1,699 | Click To View GDP & Economic
Data

Situated 400 kilometers off the coast of East Africa, Madagascar
is the fourth largest island in the world. Known for its
astonishing wildlife, the flourishing tourism industry has not been
able to lift the country out of poverty. The majority of the
population is still dependent upon agriculture for their
livelihoods, leaving the country’s economy especially vulnerable to
weather-related disasters. Since becoming independence from France
in 1960, Madagascar has experienced bouts of political instability,
violent coups and disputed elections. In 2013, former finance
minister Hery Rajaonarimampianina won free and fair elections and
as president made poverty reduction and infrastructure development
major priorities. During his time in power, growth increased
steadily, rising from 2.2% to over 5%. However, the 2018 election
was beset by allegations of fraud, raising the risk of renewed
political instability. Controversial businessman Andry Rajoelina,
who already held the presidency between 2009 and 2014, returned to
power. Hopefully, he will not jeopardize the progress made under
his predecessor.

9. Comoros

Current International Dollars:  1,662 | Click To View GDP & Economic
Data

This volcanic archipelago in the Indian Ocean, north of the
Mozambique Channel, is a natural paradise with pristine beaches and
incredible forest vegetation. Economically speaking, however, it is
a nightmare. Unemployment amongst the generally
under-educated low-skill workforce is high,
as is dependence on foreign aid and technical assistance.
Although the country’s lava-encrusted soil is unsuited to
agriculture, most the young and rapidly increasing population of
about 800,000 make their living from subsistence farming with
tourism, fishing and forestry being some of the other backbones of
the economy.

After gaining independence from France in 1974, Comoros went
through a prolonged period of political instability that hobbled
economic activity and forced many to leave the country. 
Current President Azali Assoumani—who returned to power for the
third time in 2016—introduced a number of structural reforms and
poverty-reduction programs. However, political uncertainty
persists, fiscal accounts are in dire straits and extended power
outages that make running a business impossible are the norm.

8. South Sudan

Current International Dollars:  1,613 |
Click To View GDP & Economic
Data

South Sudan is the newest nation in the world. It was born
on July 9, 2011, six years after the agreement that ended the
conflict with Sudan, Africa’s longest-running civil war. However,
violence has continued to ravage this land-locked state of 12.5
million. Formed by the 10 southern-most territories of Sudan and
home to around 60 indigenous ethnic groups, a new conflict broke
out in 2013 when president Salva Kiir accused his former
deputy, rebel leader Riek Machar, of staging a coup. As a result,
it is estimated that nearly 400,000 people were killed in clashes
and more than 4,3 million have been displaced.

South Sudan could be a very rich nation, but with oil accounting
for almost all of its exports, falling commodity prices and rising
security-related costs hammered the country’s economy. Outside the
oil sector, the majority of the population is employed in
small-scale subsistence farming.  In August 2018, Kiir and
Machar signed a ceasefire and a power-sharing agreement. Months
later, they were hosted at the Vatican, where Pope Francis kneeled
and kissed their feet in a plea to maintain peace. If they succeed,
people of South Sudan may finally have a shot at living more
prosperous lives.

7. Liberia

Current International Dollars:  1,413 | Click To View GDP & Economic
Data

Africa’s oldest republic has also ranked amongst the poorest
nations for the longest time. While the country has enjoyed peace
and stability since the ending of the civil war in 2003, its
governments failed to adequately address serious systemic problems
and structural challenges. To add to the difficulties, this country
of just 4.7 million struggled to recover from the decline in
commodity prices and the major Ebola epidemic that hit West Africa
in 2014.

Things seem to be looking up. Growth and per person GDP figures
have shown substantial improvement, with the IMF forecasting
favorable trends for years to come. What has changed? For one
thing, the president: George Weah, at one time named the world’s
best footballer, was elected in the 2017 general election. His
administration has focused on job creation, economic
diversification and critical infrastructure needs and so far,
his scorecard shows some positive results.

6. Mozambique

Current International Dollars:  1,331 | Click To View GDP & Economic
Data

The former Portuguese colony has plenty of arable land and
water, and ample energy and mineral resources. On top of that, a
recently discovered natural gas offshore field could add an
estimated $40 billion to its economy by 2035. Mozambique is also
strategically located, as four of the six countries it borders are
landlocked and depend on it as a conduit to global trade, and over
the past 10 years has posted average GDP growth rates of over 5%.
Yet, it remains among the top 10 poorest countries in the world,
with large sectors of the population continuing to live well below
the poverty line. While a 15-year long civil war ended in 1992,
severe climate conditions, corruption and political instability
never went away. In October 2019, the country will elect its next
president and Congress, but with the eternal rivals of Mozambican
politics expected to compete—Frelimo, the ruling party since 1994,
and Renamo, the largest opposition party—few believe that anything
will really change.

5. Niger

Current International Dollars:  1,280 | Click To View GDP & Economic
Data

With 80% of its this landlocked territory covered by the Sahara
desert and a rapidly growing population largely dependent upon
small scale agriculture, Niger is under threat from desertification
and climate change. Food insecurity is high, as are disease and
mortality rates, and the army’s recurrent clashes
with jihadist group and Islamic State (ISIS) affiliate Boko
Haram have displaced thousands of people. One of the main driver of
the economy—the extraction of valuable natural resources such as
gold and uranium—has also suffered from volatility and low
commodity prices.

Nevertheless, the largest nation in West Africa seems to have
finally entered a new political and economic transition phase.
Wracked by political coups since its independence from France in
1960, in 2011 Niger declared veteran opposition leader Mahamadou
Issoufou winner of the presidential polls. Since then, the adoption
of a new investment code, improved access to credit and somewhat
faster access to water have contributed to a sharp increase in
foreign direct investment.

4. Malawi

Current International Dollars:  1,234 | Click To View GDP & Economic
Data

One of Africa’s smallest nations, in recent years Malawi has
made strides in improving economic growth and implementing crucial
structural reforms. Its per capita GDP, which went from about $975
in 2010 to $1,200 in 2018, is now projected to reach $1,580 by
2024. This improved outlook has been overseen by a stable and
democratic government which has received considerable financial
support from both the IMF and the World Bank. Nevertheless, poverty
is still widespread, and the nation’s economy—largely dependent
upon rain-fed crops—remains vulnerable to weather-related shocks.
As a result, while living standards in urban areas are generally
improving, food insecurity in rural areas is extremely high.

General elections will be held on May 21, 2019, with current
president Peter Mutharika, who took the post in 2014, facing strong
opposition. Malawi is a generally peaceful country that has had
stable governments since gaining independence from Britain in 1964.
However, disputed polls results are far from being an anomaly.

3. Democratic Republic of the
Congo (DRC)

Current International Dollars:  791 | Click To View GDP & Economic
Data

Since gaining independence from Belgium in 1960, the Congo has
suffered decades of rapacious dictatorship, political instability
and constant violence. Now the country is ready to turn a page: on
24 January 2019,  Félix Antoine Tshisekedi Tshilombo—the son
of legendary opposition leader Etienne Tshisekedi—was elected as
the new president.

He has his work cut out for him. His controversial predecessor
Joseph Kabila—who had governed since succeeding his assassinated
father in 2001—is credited for bringing an end to what is commonly
referred to as the “Great African War,” a conflict that claimed up
to 6 million lives, either as a direct result of fighting or
because of disease and malnutrition. However, he did little to
improve the lives of people who survived the war: over 60% of the
country’s 77 million population still live on less than two dollars
a day. With 80 million hectares of arable land and over a thousand
minerals and valuable metals under its surface, the Democratic
Republic of the Congo has the potential to become one of the
richest African nations and a driver of growth for the entire
continent according to the World Bank. Political instability and
endemic corruption continue to frustrate that potential.

2. Central African Republic
(CAR)

Current International Dollars:  746 | Click To View GDP & Economic
Data

Rich in gold, oil, uranium and diamonds, the Central African
Republic is a very wealthy country inhabited by very poor people.
However, after claiming the title of poorest in the world for the
best part of the decade, this nation of just 4.7 million is showing
some signs of progress.

For the first time since its independence from France in 1960,
in 2016 the Central African Republic has a democratically elected a
president: former mathematics professor and prime minister Faustin
Archange Touadéra, who campaigned as a peacemaker who could bridge
the divide between the Muslim minority and the Christian majority.
While his successful election has been seen as an important step
towards national reconstruction, with about 75% of the population
living below the poverty line the path to recovery will be very
long.

Growth has already picked up, driven by the timber industry and
a revival of both agricultural and mining sector. The economy is
also benefitting from the partially resumed sale of diamonds, which
were found to be funding inter-religious armed groups and placed
under international embargo in 2013. So far, the government
has struggled to restore sales and has seen only a fraction of the
revenues it once did.

1. Burundi

Current International Dollars:  727 | Click To View GDP & Economic
Data

The small landlocked country of Burundi, scarred by Hutu-Tutsi
ethnic conflict and civil war, has fallen two places in the
ranking since last year.  President Pierre
Nkurunziza, a former Hutu rebel who won a third term last year in
controversial elections boycotted by the opposition after a failed
coup, has come under international pressure. In March 2016 the
European Union, Burundi’s largest donor, cut funding to the
government in an attempt to force Nkurunziza into talks to end the
political deadlock. The political crisis pushed the
country into recession and the Burundian government’s ban on
trade with neighbouring Rwanda in July 2016, citing concerns over
food security, has contributed to rising prices for staple
foodstuffs such as potatoes. There has also been a fall in the
production of coffee, the country’s main export. According to the
latest UNDP Burundi survey, 82.1% of the population lives on $1.25
a day or less and 90% of the Burundian population rely on
agriculture. As a result, the population is exceedingly vulnerable
to price fluctuations, export restrictions, and food scarcity.

Gross domestic product (GDP) based on
purchasing-power-parity (PPP) per capita.

Values are expressed in current international dollars,
to the nearest whole dollar, reflecting a single year’s (2018)
currency exchange rates and PPP adjustments.​

Source: International Monetary Fund, World Economic
Outlook April 2019.

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