It is well documented that income inequality is on the rise, with the richest 10 percent earning up to 40 percent of total global income. The poorest 10 percent earn only between 2 percent and 7 percent of total global income. In developing countries, inequality has increased by 11 percent if we take into account the growth of population.
These widening disparities require the adoption of sound policies to empower the bottom percentile of income earners, and promote economic inclusion of all regardless of sex, race or ethnicity.
Income inequality is a global problem that requires global solutions. This involves improving the regulation and monitoring of financial markets and institutions, encouraging development assistance and foreign direct investment to regions where the need is greatest. Facilitating the safe migration and mobility of people is also key to bridging the widening divide.
Goals in action
Monica Shahi made history as the first transgender person in Nepal to receive a passport recognizing her gender identity as unconnected to her biological sex. This is her story. MORE >
Somalia is one of four countries facing the threat of famine, and the situation in is rapidly deteriorating. Parts of the country have not received any rain for three consecutive years. In some areas, crops have been completely wiped out and livestock has died; communities have been forced to sell assets and to borrow food and money to survive. MORE >