RICH OR POOR! Nigeria Tops List Of 'Bitter-Sweet' Countries
Nigeria, Singapore and India are among countries fueling the gap between the super-rich and the super-poor.
This means that if you live in any of these countries, and you are poor, it will be harder for you to be rich and vice versa.
Aid agency Oxfam disclosed this on Tuesday as it launched a report spotlighting those nations doing least to bridge the gap between the rich and the poor.
South Korea, Georgia and Indonesia were among countries praised for trying to reduce inequality, through policies on social spending, tax and labour rights.
Oxfam said inequality had reached crisis levels, with the richest 1% of the global population nabbing four-fifths of wealth created between mid-2016 and mid-2017, while the poorest half saw no increase in wealth.
Reuters reports that the index of 157 countries is being released as finance ministers and central bank chiefs gather in Bali, Indonesia for the World Bank and International Monetary Fund annual meetings.
Nigeria, where 10% of children die before their fifth birthday, came bottom due to “shamefully low” social spending, poor tax collection and rising labour rights violations, Oxfam said in the report.
It said tackling inequality did not depend on a country’s wealth, but on political will.
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