Collaboratively strive to alleviate poverty

A significant portion of the population faces severe crises regarding basic daily needs. Many individuals earn low incomes, spending 70 per cent of their earnings on food. With limited employment opportunities and rising food prices, many cannot afford basic necessities. As a result, this country is struggling with poverty.
According to a World Bank press release dated 13 October 2024, forty per cent of the global population resides in 26 least-developed countries (LDCs), which are burdened by debt and highly vulnerable to natural disasters and other unexpected occurrences. In the aftermath of the COVID-19 pandemic, these countries are experiencing higher levels of poverty compared to the pre-pandemic period. The report indicates that two-thirds of these 26 countries are facing armed conflicts and significant social instability due to weaknesses in their administrative mechanisms. Furthermore, these nations rely heavily on financial aid and interest-free loans from the International Development Association (IDA) due to a lack of foreign investment.
The primary cause of poverty is the income disparity between the rich and the poor. Some countries address this issue by allocating the State revenue to projects that directly benefit those in poverty. They increase tax rates for the wealthy while providing financial assistance to those in need, either directly or indirectly.
Due to the subsequence of poverty, one billion people of the global countries earn only one US dollar per day. As a result, they face significant challenges, including food, housing, and clothing insecurity. In some of the least developed countries, per capita income falls below US$1,145 per year due to burdening a large amount of debt after 2006.
Myanmar has made significant progress in reducing its poverty rate in recent years. However, this success was hampered by the outbreak of COVID-19 in 2020, which led to a notable increase in poverty across the country. The agricultural sector faced crises, resulting in lower employment rates and rising commodity prices, further exacerbating the situation.
Significantly, new challenges such as climate change, food insecurity, and conflict have increased poverty rates, making it difficult for people to escape poverty. Children from low-income families often drop out of school, limiting their earning potential due to a lack of qualifications. Consequently, they miss the opportunity to break the cycle of poverty. Therefore, both the government and the community must collaborate to alleviate poverty and work towards the overall development of the nation.

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