Monitoring Desk
ISLAMABAD: Pakistan finds itself positioned at 52nd place, with Bangladesh trailing closely behind at 62nd and India at 63rd in the ranking of the world’s poorest countries released by the International Monetary Fund (IMF).
Meanwhile, Nepal stands out as the poorest country in South Asia, ranking in the 40th position on the list.
Topping the list is South Sudan, with a per capita GDP of $492.72, making it the poorest nation globally. The country’s poverty is primarily attributed to political instability, conflict, and limited infrastructure in the country, which gained independence in 2011, making it the world’s newest nation.
On the opposite end of the spectrum, Luxembourg takes the lead as the wealthiest country globally, boasting a staggering GDP per capita of $145,834. Following closely behind are Ireland, Singapore, and Qatar.
The arrangement of countries in the IMF’s list is based on the per capita GDP and the purchasing power of the population, as highlighted by the American financial magazine Forbes.
GDP serves as a measure of a country’s overall economic output while purchasing power indicates the standard of living.
A significant trend observed in the IMF’s report is the prominence of African nations among the top 10 poorest countries globally.
After South Sudan, Burundi secures the second position with a per capita GDP of $936.42, followed by the Central African Republic and the People’s Republic of Congo.
Other African countries featured in the top 10 include Mozambique, Malawi, Niger, Chad, Liberia, and Madagascar, highlighting the economic challenges prevalent across the African continent.