The World Bank has revised its previous estimate and now says that 1.4 billion people live in poverty, based on a new poverty line of $1.25 per day.
This is substantially more than its earlier estimate of 985 million people living in poverty in 2004.
"This is pretty grim analysis coming from the World Bank," said Elizabeth Stuart, senior policy adviser at Oxfam. "The urgency to act has never been greater, especially in sub-Saharan Africa where half the population of the continent lives in extreme poverty, a figure that hasn't changed for over 25 years."
[Excerpt of an article by Steve Schifferes, BBC]