The World Bank plans to revise the global poverty line from $1.90 to $2.15 due to increases in the costs of basic food, clothing, and shelter across the world. This was contained in a Fact Sheet post titled ‘An Adjustment to Global Poverty Lines’, which was published on the bank’s website on Monday.
The post read in part, “As differences in price levels across the world evolve, the global poverty line has to be periodically updated to reflect these changes. Since 2015, the last update, we have used $1.90 as the global line.
As of fall 2022, the new global line will be updated to $2.15.” It added, “The new global poverty line is set at $2.15 using 2017 prices. This means that anyone living on less than $2.15 a day is considered to be living in extreme poverty.
Just under 700 million people globally were in this situation in 2017.” According to the lending bank, the real value of $2.15 in 2017 prices is the same as what $1.90 was in 2011 prices. “The global poverty line is periodically updated to reflect changes in prices across the world.
