translated from Spanish: Venezuela reaches historical record: 94.5% of people live in poverty

In its latest report “The paradox of recovery in Latin America and the Caribbean. Growth with persistent structural problems: inequality, poverty, low investment and low productivity”, the Economic Commission for Latin America and the Caribbean (ECLAC) announced economic expectations and poverty levels in the region. The organization indicated that the structural problems of the area have worsened, and that it is very likely that they will continue during the reactivation. Regarding poverty, ECLAC revealed that the extreme poverty rate would have reached 12.5% in 2020, while the poverty rate stood at 33.7%. At the regional level, poverty is broken down as follows:Venezuela leads the list. With 28 million inhabitants, the unprecedented inflationary crisis it is going through, added to the recession, have caused 94.5% of people to live in poverty, according to data from the Andrés Bello Catholic University of Caracas (Ucab). In second place would be Mexico, with a rate of 43.9%, followed by Argentina, whose poverty rate stood at 40.6% in the first half of 2021, a decline of 0.3 percentage points when compared to the same period of the previous year. They are followed by Bolivia with 39%, Ecuador (32.4%), Peru (30.1%), Paraguay (26.9%), Brazil (24.1%), Uruguay (11.6%) and Chile (10.8%).

Original source in Spanish

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