64% of World's Extreme Poor Live in Just 5 Countries

The World Bank Group (WBG) and the International Monetary Fund (IMF) continue to hold their annual spring meetings in Washington, D.C., this weekend. Thousands of government officials and and NGOs are there to discuss the global economy and international development.

Gearing up for the event, the WBG released a new report Thursday. It focuses on the progress that has been made in reducing global poverty, and what challenges remain

Using the most recent data from 2010, the report shows that nearly two-thirds of the extremely poor — that is, those who live on less than $1.25 a day — live in just five countries: India, China, Nigeria, Bangladesh and the Democratic Republic of Congo. Read more...