Poverty is the state for the majority of the world’s people and nations.
At least 80% of humanity lives on less than $10 a day.Source
According to UNICEF, 22,000 children die each day due to poverty.
Some 1.1 billion people in developing countries have inadequate access to water, and 2.6 billion lack basic sanitation.
The poorer the country, the more likely it is that debt repayments are being extracted directly from people who neither contracted the loans nor received any of the money.Source
Cosmetics in the United States 8 (u.s. billions)
Ice cream in Europe 11
Perfumes in Europe and the United States 12
Pet foods in Europe and the United States 17
Business entertainment in Japan 35
Cigarettes in Europe 50
Alcoholic drinks in Europe 105
Narcotics drugs in the world 400
Military spending in the world 780
Structural Adjustment Policies (SAPs) have been imposed to ensure debt repayment and economic restructuring. But the way it has happened has required poor countries to reduce spending on things like health, education and development, while debt repayment and other economic policies have been made the priority. In effect, the IMF and World Bank have demanded that poor nations lower the standard of living of their people.
how Senegal was encouraged to grow nuts for export. In summary,
As a poor nation without many resources, it took out loans to help develop the industry. Other nations saw this was going well, so they followed suit. The price of nuts started to drop and Senegal faced debt repayment problems. Structural adjustment policies were put in place, cutting spending and reducing government involvement in the nut industry and...