Poverty reduction strategies and policies in developing countries: myth or reality?

Povery is a multi-faceted concept. Various meanings can be ascribed to it. In relative terms, people are poor when their living conditions fall radically below the community average. In absolute terms, poverty refers to insufficient or total lack of basic necessities like food, housing, safe water, healthcare services and income to obtain the necessities of life. Poverty alleviation has, therefore, become the central policy objective of international development agencies, such as World Bank, United Nations, International Monetary Fund (IMF) and national governments, especially in Third World Countries. Poverty alleviation has become a challenging moral agenda in that over 1.3 billion people currently live in conditions of endemic hunger and poverty, while the wealth of the minority continues to increase. This paper analyzes the concept of poverty, its country-specific dimensions in the Developing Countries, the policies, strategies and interventions adopted by various countries to reduce it. Suggestions were also made on ways to reduce poverty. Keywords: Poverty reduction, Strategy, Policies and developing countries.JORIND Vol. 5 (2) 2007: pp. 13-13