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peru
Poverty rates in Peru have dropped significantly over the past four years. Specifically, extreme poverty rates among those with non-social assistance-based income have dropped from 32.8 percent to 24.1 percent in the poorest, most rural parts of the country. While Peru has faced its fair share of challenges, progress is being made.

Ana Revenga, the Senior Director of the Poverty Reduction Unit of the World Bank, recently stated that Peru’s economic growth and poverty reduction is one of the best in the region. Revenga explained, “The significant and sustained growth of the Peruvian GDP benefited the poorest, which resulted in a decrease in inequality.”

These impressive economic improvements throughout the country have come as a result of a major collective effort. In particular, a variety of social initiatives have proven to be key in combating extreme poverty and inequality.

Programs like the National Strategy for Development and Social Inclusion — or “Incluir para Crecer” — are working to close gaps in available public services. Perhaps even more importantly, this type of social program works to expand exclusive economic growth that neglects to help those suffering most severely.

As the country strives to continue moving forward, additional programs like Juntos and Pension 65 will be offering support to Peru’s poorest population. These programs will be working to ensure the longevity of recent improvements in the economic and living conditions of the extremely poor.

The Juntos program has directly contributed to the reduction in child malnutrition under the country’s current government. Within the framework of the program, conditional transfers of state subsidy guarantee good health and growth for unborn and young children alike.

Amongst Peru’s rural population, child chronic malnutrition has declined from 37 percent to 28.8 percent. At the national level, it has dropped from 19.5 percent from just four years ago to 14 percent in 2015. This number is encouragingly close to the 10 percent target set for the end of the current administration period.

The country’s Minister of Development and Social Inclusion, Paola Bustamante recently stated that since 2012, there has been over $1 billion invested in these types of social programs.

She explained that all social programs are implemented under a performance-based budgeting framework, which prevents funds from being used for other purposes besides social programs.

However, despite the above mentioned critical steps in the right direction, Peru is still facing its fair share of structural challenges. In early July 2015,  the Organization for Economic Cooperation and Development requested that Peru review and reorganize its denomination of rural and urban regions.

Such obstacles have not significantly curtailed the rates of improvement in poverty reduction and inequality, however. In fact, Bustamante Suarez, another government official, has assured the public that current social inclusion policy will most definitely be continued by subsequent administrations.

Strategically targeted social initiatives will continue to level the economic playing field. As explained by Suarez, these programs will continuously work to close basic services gaps, thus improving the living conditions of the poor population. Peru still has a long road ahead, but leaders are confident that it will come out on top.

– Sarah Bernard

Sources: Andina, Peru This Week
Photo: Peace and Hope International

slatecube
This August, MIT will host the 2015 MITx Global Entrepreneur Bootcamp, where students from all around the world are brought together in the spirit of entrepreneurship. Within a week, each student will create a business and pitch their idea to a panel of professionals, giving the visiting students a taste of the fast-paced, competitive MIT atmosphere.

MITx selected 50 candidates from 24 countries to participate in the boot camp. Chris Kwekowe from Nigeria is among the 50 to be accepted at the MIT workshop with his startup, Slatecube.

Chris Kwekowe is from southeastern Nigeria. He comes from a family of five, which are all boys. He currently studies Computer Science at the Nnamdi Azikwi University, Awka. He believes “the average African youth is the driving force for global impact,” which inspired the start of Slatecube.

Slatecube balances current knowledge with skill acquisition in a system of free, cloud-based learning courses. It focuses on “employability and social development”. It enables its users to learn and collaborate with professionals while developing relevant skills to give them an edge in the working world.

Kwekowe explains, “Essentially, what we do at Slatecube is really simple but very important. We help individuals develop new knowledge or build on already existing knowledge and then expose them to industry-relevant skills with hands-on training from real organisations in order to make them more employable and improve their social and economic relevance.”

Slatecube is designed to help students gain skills and obtain experience, both of which will help young, aspiring professionals when applying for a job. The courses are self-paced and the instructors are free-lanced.

With knowledge this accessible to young Nigerian students, Slatecube would empower the workforce and decrease the unemployment rate. In 2015, Nigeria’s unemployment rate is seven point five percent, an astonishing decrease since 2012, when the unemployment rate was 23 percent. Slatecube could further this decline in unemployment while empowering young professionals.

Kwekowe will attend MITx Global Entrepreneur Bootcamp at the end of August, ready and armed with Slatecube. Back with his newfound knowledge from MITx, Kwekowe and Slatecube could have a large impact on young, aspiring professionals around the world.

Hannah Resnick

Sources: IT News Africa, MITx, Slatecube, Trading Economics
Photo: IT News Africa