(p. A16) The global population living in extreme poverty has fallen below 750 million for the first time since the World Bank began collecting global statistics in 1990, a decline of more than 1 billion people in the past 25 years.
. . .
The World Bank defines “extreme poverty” as living on less than $1.90 a day, or about $694 a year. The sum, which is based off measures of poverty determined by many low-income countries, is the amount it takes to afford minimal basic needs.
The figure is comparable, adjusted for inflation, to the $1-a-day threshold that became popular in the 1990s as the marker of extreme poverty.
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(Note: the online version of the story has the date Sept. 19, 2018, and has the title “World Poverty Falls Below 750 Million, Report Says.”)