(First of two parts) For many years now, the whole world has been struggling with how to deal with the twin evils of Inequality and Exclusion. These two evils have led to worldwide poverty and
How serious are these two global problems?
Our GINI coefficient, which is a measure of inequality in a country, is at 42.3 percent—the worst in Association of Southeast Asian Nations and one of the worst in East Asia . We also have the distinction of having the worst poverty ratio in Asean which, due to COVID, had even worsened from 16.7 percent to 23.7 percent. All the other Asean countries have single-digit poverty ratios.
Many financial institutions continue to require more stringent requirements for farmers and small entrepreneurs. And banks would rather pay penalties for not complying with loan level requirements for the agri-agra sector . Other examples of exclusion are: ostracizing the unwilling targets of sexual harassment, exclusion due to religion and economic status, and many more.The World Bank prescribes shared prosperity along with ending extreme poverty.
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