Since You Asked: How Does the WBG Measure Poverty?

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00:01 Ending extreme poverty is a crucial part

00:03 of the World Bank Group's mission.

00:05 As the COVID-19 pandemic sweeps across the world,

00:08 this goal

00:09 has gained new dimensions.

00:11 But the first step to reduce poverty

00:13 is measure it.

00:20 How does the World Bank do that?

00:22 In 3 steps.

00:24 First,

00:24 through surveys,

00:25 countries measure how much households spend on things like food,

00:29 housing,

00:29 and utilities,

00:30 or how much money they earn.

00:32 Second,

00:33 we establish a monetary poverty line for each country

00:37 and compare a person's spending or income

00:40 against this threshold.

00:42 If it's below this line,

00:43 they are considered to be in poverty.

00:45 Lastly,

00:46 if we want to compare poverty across countries and time,

00:49 we convert people's income or spending

00:52 from local currency

00:53 to a common measure.

00:55 But how can this help reduce poverty?

00:58 Tracking how poverty changes over time

01:01 helps governments and organizations like the World Bank

01:04 design and implement

01:05 more effective strategies to improve people's lives.

01:09 It helps us gauge the impact of programs,

01:11 enabling us to adjust them if needed.

01:15 As COVID-19 pushes millions of people into poverty across the world,

01:19 measuring poverty has never been more vital.

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Ending extreme poverty is a crucial part of the World Bank Group's mission. As the COVID-19 pandemic sweeps across the world, this goal has gained new dimensions. But the first step to reduce poverty is measure it. How does the World Bank do that? In 3 steps. First, through surveys, countries measure how much households spend on things like food, housing, and utilities, or how much money they earn. Second, we establish a monetary poverty line for each country and compare a person's spending or income against this threshold. If it's below this line, they are considered to be in poverty. Lastly, if we want to compare poverty across countries and time, we convert people's income or spending from local currency to a common measure. But how can this help reduce poverty? Tracking how poverty changes over time helps governments and organizations like the World Bank design and implement more effective strategies to improve people's lives. It helps us gauge the impact of programs, enabling us to adjust them if needed. As COVID-19 pushes millions of people into poverty across the world, measuring poverty has never been more vital.

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