These are the World's Poorest Countries!
The International Monetary Fund (IMF) releases its report on the World Economic Outlook twice a year which scrutinizes the global economic powers with regards to the Gross Domestic Products (GDP) per-capita income. According to the latest reports, the following are the poorest countries in the world:
Located in Northeastern Africa, this country was separated from North Sudan in 2011. It has a predominantly Arab population and is the 16th largest country in the world, which is five times the size of Germany. The nation has a population of about 40 million people who speak in Sudanese Arabic and Beja. According to the latest IMF reports, this country has been ranked the current poorest in the world with per-capita income at $246.
Landlocked by Rwanda, Tanzania and the Democratic Republic of Congo, the country has been struggling with a 12 year ethnic-based civil war. The dominant Tutsi minority and the Hutu majority have been having conflicts ever since the nation gained independence in 1962. It is currently the second poorest country in the world with its GDP at $339.
Located in Southeaster Africa, the people of Malawi engage in cash-crop and subsistence agriculture. The country produces and exports tea and tobacco and has foreign capital and development aid to sometimes even produce food surplus. However, the nation has been marked as the third poorest country with a GDP of $342 mainly due to an agricultural system that favours large estate owners. Most of the population resides in rural locations.
Central African Republic
This nation is rich in diamonds, gold, oil and uranium and gained independence from France in 1960. However, it has always been unstable and, 2013, plunged into turmoil when Muslim rebels seized power in a country with a Christian majority. A transitional government gained power in 2014 under international pressure and the nation is undergoing a constitutional referendum and elections. Currently, the country is the fourth poorest in the world with its GDP at $425.
Yemen is located in the Arabian Peninsula and is the second largest Arab sovereign state in the region. It was formed with the merging of the communist South Yemen and the traditional North Yemen states in 1990. The country has witnessed a lot of political tension ever since, has become the base for militant groups like Al-Qaeda and the Islamic state and, in 2014, spiraled into a civil war. It is the fifth poorest country in the world with its GDP at $449.
This nation is a former Portuguese colony which gained independence in 1975. The country is still suffering from a 16 year civil war which ended in 1992. It is the sixth most poorest nation in the world with its per-capita income at $472. However, gas fields were discovered along the coast line in 2011 and the country received an approval of 20 billion USD for a liquefied natural gas plant, which indicates an increase in the economic growth in the foreseeable future.
Democratic Republic of Congo
This nation has abundant natural resources with oil as the mainstay of the economy. However, there is severe political unrest in the nation and calls for President Joseph Kabila to step down. The parliament recently approved a controversial mining code which has sparked fears in the business profit margins, although the higher prices on commodities could propel economic growth. The GDP in this nation stands at $477.
This nation is located off the southeast coast of Africa and is the fourth largest island in the world. The economy is based on the cultivation of paddy rice, vanilla, coffee and cloves. The country remains among the poorest in the world with its latest GDP at $479, despite its natural resources and tourism industry due to political instability.