In a recent report released by the International Monetary Fund (IMF), a list of the world’s poorest countries has been unveiled, with South Sudan topping the list with a GDP per capita of $492.72.
According to the renowned American financial magazine “Forbes,” the IMF compiled this list based on the GDP per capita of the respective countries and the purchasing power of their residents.
GDP per capita serves as a measure of a nation’s overall economic situation, while the purchasing power of individuals determines the standard of living.
Poorest Countries on the List
South Sudan, the newest country in the world since its independence in 2011, ranks as the poorest country globally with a GDP per capita of $492.72, plagued by political instability, conflicts, and limited infrastructure.
Among the top 10 poorest countries listed by the IMF, all are African nations. Following South Sudan, Burundi secures the second position with a GDP per capita of $936.42, followed by the Central African Republic and the Democratic Republic of the Congo. Mozambique claims the fifth spot, followed by Malawi, Niger, Chad, Liberia, and Madagascar, respectively.
Nepal stands at number 40 in the list of poorest countries, making it the poorest country in South Asia. Pakistan follows closely behind at 52nd place, with Bangladesh at 62nd and India at 63rd. Moreover, Luxembourg holds the top position among the world’s richest countries, boasting a staggering GDP per capita of $145,834, followed by Ireland, Singapore, and Qatar.
The release of this list sheds light on the economic disparities prevalent across the globe, emphasizing the need for concerted efforts towards addressing poverty and promoting economic development.
