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Stylized Facts on Poverty Profile and Quality of Life in Africa

Stylized Facts on Poverty Profile and Quality of Life in Africa

 

Abstract: Poverty reduction has attracted growing concern in the international development community. The World Bank (1990) and the United Nations’ Millennium Development Goals and Sustainable Development Goals declarations are demonstrations of this. A key goal in each of the declarations is to eliminate world poverty. All member countries signed on to the declarations. Over the decades, policies have been implemented by governments in Africa, like those of Asia and Latin America, within the context of the declarations. A review of performance on relevant indicators shows that poverty and quality of life profiles are poorer in Africa than in Asia and Latin America. There is therefore the need for African countries to demonstrate greater commitment to judicious provision of public resources to enhance attainment of the stated goals. As Africa’s population is the youngest among all the continents, unless determined efforts are made by African governments to create opportunities for youth employment and improve access to quality education and health care as well as credit to small and medium size enterprises, the limited success recorded on poverty reduction and improvement in quality of life may be short-lived.

JEL classification: I31, I32, O55

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