Improved World Bank estimates bring mixed news on global poverty

The World Bank said new estimates showed there were more poor people in the world than previously thought, but also revealed big successes in the fight to overcome extreme poverty. The new estimates, based on improvements in internationally comparable price data provided by the 2005 International Comparison Program, offer a much more accurate picture of the cost of living in developing countries and set a new poverty line of US$1.25 a day.

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