– World Bank report
The Latin America and Caribbean region saw a 50% increase in the number of people joining its middle class over the last decade, according to a new World Bank report, which sees them as the potential change agents in alleviating poverty.
The report, “Economic Mobility and the Rise of the Latin American Middle Class,” which was released yesterday, found that the middle class in the region grew to an estimated 152 million in 2009, compared to 103 million in 2003, representing an increase of 50%, the World Bank said in a news release yesterday.
It dubbed the growth an historic development rooted in government policies that married social programmes and economic stability. “The recent experience of
