As efforts through the Economic Recovery Plan are underway to put the country on a sound footing, a Multidimensional Poverty Index (MPI) study by Oxford University says Malawi needs at least 74 years to eradicate its poverty at the current rate is going, which is at 50.7 percent.
The study, carried out in 22 countries by Dr Sabina Alkire and Dr Jose Manuel Roche from the Oxford Poverty and Human Development Initiative (OPHI), measured reductions in multidimensional poverty, overlapping deprivations in health, education and living standards, among others.
Of the 22 countries were the study was carried out, according to the study, Nepal, Rwanda and Bangladesh were the star performers. They registered “largest absolute” reduction in multidimensional poverty, followed by Ghana, Tanzania, Cambodia and Bolivia.
If the star performing countries continue to reduce poverty at the current rate of reduction, they will halve the MPI in less than 10 years and eradicate it in 20 years.
“At the current rate of reduction, it will take Ethiopia 45 years to halve the multidimensional poverty; in other words, to achieve poverty levels equivalent to those Nigeria has now. Based on the same assumptions, it will take India 41 years and Malawi 74 years to eradicate acute poverty as measured by MPI.
“Using this measure, we found that reductions in intensity- the percentage of deprivations people experience at the same time-were strongest in relatively poorer in countries such as Ethiopia, Malawi and Senegal says Dr. Alkire, Director of OPHI.
OPHI Director further says by providing a more complete and balanced picture, the measures would help spur the eradication of multidimensional poverty.
Almost half of Malawi’s population is poor, about one in every four people lives in dire poverty and cannot even afford to meet the minimum standard for daily recommended food requirement, according to the Third Integrated Household Survey (IHS3).