September 16, 2019
 In 2022-Income Inequality

Country: Colombia
Delegate Name: Vincenzo Frattarelli

Delegate: Vincenzo Frattarelli
Country: Columbia
Committee: ESOSOC
Topic: Wealth Inequality

Income inequality is a serious problem in almost all modern countries. Wealth inequality, or income inequality, is the disparity of wealth between classes or people. This can cause many issues, and it often causes the people to go into poverty and even hunger, while the rich only get richer. 48 percent of people in the world live below 3.10 dollars per day. This creates extremely low levels of sanitation, nourishment, education, and medical care, while creating extremely high rates of slavery and child labor, both of which are at an all time high.

The top 20 percent in Columbia currently hold about 58 percent of the total wealth, while 38 percent of the nation is under the poverty line. This is extremely serious, as the 38 percent in poverty are often unable to afford basic necessities, such as food. This creates a moderate amount of wealth inequality. One of the major stemming factors towards this wealth disparity is the lower income for women in the country. It is currently taking steps to combat this, however. There are currently nation-wide protests against the economic discrimination, which are working to further the cause more every day. The president is also helping, having recently passed a tax for 1 billion on the country’s richest.

In conclusion, the fight against poverty in Columbia is gaining more momentum each and every day. There are people protesting, and working to get legislation passed, even in the current crisis in Columbia. The recently inaugurated president Guasta Petro is also trying to help establish more equality in Colombia’s economic system. Soon, Columbia’s economic disparity will be a thing of the past.