Poverty Reduction In Latin America

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Latin America and the Caribbean countries have risen against the challenge of Poverty Reduction, and shown commendable progress with 8.5% of the population rising to the middle class level in the last decade, but 42.12% still live in the dreads of poverty. IDB via its Division of Social Protection and Health works with people who live below the poverty line or are shunned by society and aims to provide them with opportunities of education and labour. IDB-financed programs help in reducing racial and ethnic inequalities on many fronts. Poverty Reduction requires achieving and sustaining strong levels of economic growth, but that growth will be considered invalid if it does not spread out to all the sections of society. The Bank aims at improving lives of people by increasing nutrition, educational possibilities, fostering social inclusion and maintaining a long lasting and just social…show more content…
The majority of the population which lives in the rural areas is below the poverty line. The Victims and Land Restitution Law was passed in June 2011, where monetary compensation was provided to the ones who were in loss of property due to the conflict and violence involving outlawed armed groups and drug cartels, but Economic Inequality remains an issue, as there still exist many who depend on agriculture as their daily bread and many who are still landless and unemployed . There is a high degree of illiteracy in the rural areas, whereas the urban areas are comparatively more developed and established, but they only comprise of less than 30% of the total population. According to the World Bank, Colombia's Gini coefficient (a measurement of inequality in wealth distribution) was 0.587 in 2000 and 0.559 in 2010, ranking alongside Brazil and Bolivia as the most unequal Latin American countries in terms of wealth
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