10/02/2024
I can feel the pain.
S. SUDAN RANKED THE POOREST COUNTRY IN THE WORLD 2024
Date: 09/February/2024
According to the global finance an independent world entity which provides free Country Economic Reports; GDP and trade statistics; Best Bank listings; global financial news, have ranked South Sudan the poorest country in the world.
The very poorest of the world’s poorest countries, South Sudan has been wracked by violence since its creation in 2011. Rich in oil reserves, the landlocked state of roughly 11 million represents a textbook example of the “resource curse,” whereby abundance fosters political and social divisions, inequality, corruption and warfare. The majority of the population is employed in traditional agriculture, although violence and extreme climate events often prevent farmers from planting or harvesting crops. According to the World Bank, over 9 million people were estimated to need humanitarian assistance in 2023, an increase of half a million people compared to the previous year.
The world has enough wealth and resources to ensure that the entire human race enjoys a decent standard of living. Yet people countries like Burundi, South Sudan and the Central African Republic continue to live in desperate poverty. For other likely contenders for the undesirable title of the world’s poorest country—Afghanistan, Syria and Yemen—years of ongoing conflict make it impossible to even attempt an assessment due to the lack of reliable economic figures.
So how do we determine the poorest countries in the world? While GDP per capita is often considered the standard metric, compensating for differences in living costs and rates of inflation by using purchasing power parity (PPP) can better assess an individual’s buying power in any given country.
It is hard to pinpoint a single cause for long-term poverty. Corrupt governments can make a very rich nation into a poor one. And so can a history of exploitative colonization, weak rule of law, war and social unrest, severe climate conditions or hostile, aggressive neighbors. Weaknesses compound: A country in debt will not be able to afford good schools, and a poorly educated workforce will limit capacity.
TOP 10 POOREST COUNTRIES IN THE WORLD 2024:
Below is a ranking of the ten poorest countries, starting from the country ranked tenth poorest and progressing to the country ranked as the top poorest in the world for 2024.
10. Madagascar🇲🇬
9. Chad🇹🇩
8. Liberia🇱🇷
7. Malawi🇲🇼
6. Mozambique🇲🇿
5. Niger🇳🇪
4. Democratic Republic of the Congo (DRC)🇨🇩
3. Central African Republic (CAR)🇨🇫
2. Burundi🇧🇮
1. South Sudan🇸🇸
Source: Global finance ©
