United Nations Development Program
Eradication of Poverty
Trinidad and Tobago
Forest Hills Eastern
Poverty has become a pressing issue in numerous countries. At least 783 million documented people live under the international poverty line of $1.90 per day. Over 10% of the employed population of the world lives on less than $2.00 a day. A majority of the countries measure poverty based on income and overall wealth. However, multidimensional poverty affects many countries, especially third world countries as well as newly formed countries. Poverty multiplies as time goes on; each generation passes on their poverty to the next.
Trinidad and Tobago gained independence in 1962 from the United Kingdom and is a high-income developing country. Unemployment is at 4% and even though Trinidad and Tobago is the richest country in the Caribbean, the poverty rate is still 20%. The GDP per capita of the island duo makes it the third richest country in the Americas. Trinidad and Tobago has a strong economy based around the oil and gas industries. A decrease in oil prices in recent years has led to lower wages and economic stagnation. Trinidad and Tobago is recognized as a high-income country according to the World Bank with an increasing poverty rate. A major problem in Trinidad and Tobago is multidimensional poverty, including a lack of education, poor health care, inadequate living standards, and poor quality of work. To combat this problem, the government has been diversifying the economy and developing non-fossil fuel-based industries. This may lead to higher wages, a better standard of living, a decrease in the multidimensional poverty rate, and ultimately, a decrease in the overall poverty rate.
Trinidad and Tobago is amidst a poverty crisis that needs to be addressed. The strong oil-based economy in Trinidad and Tobago is slowly crumbling due to a decrease in oil prices. This is creating a decrease in wages that is lowering the standard of living and affecting multidimensional poverty negatively. Trinidad and Tobago strongly suggest continued funding for diversifying the economy to decrease multidimensional poverty. Trinidad and Tobago also urges the United Nations to increase funding to help countries decrease their poverty. Trinidad and Tobago will incorporate ideas and plans from NGOs like KV Lifeline Foundation, Associates of Caribbean States, and Asociacion Agricola Juan Pablo Duarte, Inc. in our resolutions to reduce the multidimensional poverty rates around the world.
- Vishnu Mano