How wealthy or poor a country is really doesn’t depend on the amount of money that they have, but more on the level of goods and services that they provide. The measurement of the production of goods and services in a country is known as its GDP or Gross Domestic Product. A countries worth also depends on their international debts and sometimes their ability to improve in the future. The wealth of a country is determined per capita. This is the average amount of goods or services per year that one person in the country produces. There are a number of organizations that determine the GDP of a country. These include the World Bank and the International Monetary Fund. The calculations made by these organizations often differ quite substantially from country to country and this is because the information used to calculate the GDP is only an estimate.
The International Monetary Fund’s Poorest Country
According to the most recent estimates by the International Monetary Fund, Zimbabwe is the poorest country on the world with an estimated GDP of $0.1. This is due to hyperinflation in Zimbabwe the prices for goods and services continue to double every 1.1 days. This means that the money in Zimbabwe has little or no value in other countries. They use to have a GDP of $395 per capita which still ranked them as the second poorest country in the world after the Democratic Republic of Congo.
The 5 poorest countries in the world according to the International Monetary Fund’s estimates are as follows:
- Zimbabwe- $0.1
- Democratic Republic of Congo- $334
- Liberia- $396
- Burundi- $401
- Somalia- $600
The World Banks Poorest Country
According to the World Banks estimates in 2009, The Democratic Republic of Congo was the poorest country in the world with a GDP of 319 international dollars per capita.
The worlds’ five poorest countries according to the World Bank are:
- The Democratic Republic of Congo- $319
- Burundi- $392
- Liberia – $396
- Niger- $675
- Central African Republic- $757