Pakistan is ranked 52nd on the list of the world’s poorest countries, according to the recently published ranking by the International Monetary Fund (IMF).
Pakistan in the list of poorest countries is followed by Bangladesh at 62nd and India at 63rd. Nepal is ranked as the poorest country in South Asia, positioned at 40th in the ranking.
As per the IMF’s ranking, South Sudan is listed as the poorest country globally, with a per capita GDP of $492.72.
The country’s economic challenges are linked to political instability, ongoing conflict, and limited infrastructure. Since gaining independence in 2011, South Sudan has struggled to overcome these issues.
In contrast, Luxembourg is recognized as the wealthiest nation worldwide, with a GDP per capita of $145,834, surpassing Ireland, Singapore, and Qatar.
This ranking, reported by Forbes, is determined by analyzing each country’s per capita GDP and the purchasing power parity of its population. GDP measures the total economic output of a country, whereas purchasing power reflects the standard of living.
The report highlights a significant presence of African countries among the ten poorest globally, with Burundi, the Central African Republic, and the People’s Republic of Congo following South Sudan.
Other African nations in the top 10 include Mozambique, Malawi, Niger, Chad, Liberia, and Madagascar, underscoring the economic hardships faced by many countries on the continent.
