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Half of the world’s 75 most vulnerable economies are experiencing a widening income gap with the wealthiest economies for the first time in the 21st century, the World Bank said in a new report.

The World Bank found that between 2020 and 2024, per capita income in half of World Bank’s International Development Association (IDA) member countries grew more slowly than in richer countries, exacerbating income inequality.

💬”The extreme poverty rate is more than eight times the average in the rest of the world: one in four people in IDA countries struggles on less than $2.15 a day. These countries now account for 90% of all people facing hunger or malnutrition,” the report read.