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World poverty is rapidly dropping, Oxford University report says

  • Nepal Hindu Festival_Cala.jpg

    A Hindu Holy man smokes marijuana during the "Shivaratri" festival at the courtyard of the Pashupatinath temple in Katmandu, Nepal, Sunday, March 10, 2013. "Shivaratri", or the night of Shiva, is dedicated to the worship of Lord Shiva, the Hindu god of death and destruction.(AP Photo/Niranjan Shrestha) (AP2013)

  • Bangladesh Rickshaw R_Cala.jpg

    Bangladeshi rickshaw pullers participate in a race in Dhaka, Bangladesh, Friday, March 15, 2013. A total of 84 rickshaw pullers will embark on the race from Jatiya Sangsad Bhaban to Old Dhaka and back during the Dhaka Rickshaw Festival Week. (AP Photo/A.M. Ahad) (AP2013)

Poor no more?

A new report from Oxford University’s poverty and human development initiative says some of the world’s most impoverished people are becoming significantly less poor.

The study also predicts that countries with the most poor, including Nepal, Rwanda and Bangladesh, could see acute poverty erased within 20 years if development continues at current rates, the Guardian reports.

Oxford University’s study uses a measure called the Multidimensional Poverty Index (MPI), which includes indicators such as years of schooling, water availability, nutrition and child mortality.

"As poor people worldwide have said, poverty is more than money – it is ill health, it is food insecurity, it is not having work, or experiencing violence and humiliation, or not having health care, electricity, or good housing,” said Dr. Sabina Alkire, who co-developed the system for the organization in 2010. “Maybe we have been overlooking the power of the people themselves, women who are empowering each other, civil society pulling itself up."

Last week, the UN’s latest development report said the world is experiencing a “global re-balancing,” with higher growth in at least 40 poor countries, the Guardian reports.

Click for more from The Guardian.