The line has been updated several times since then to reflect changing prices and the costs of meeting basic needs. The most recent update, which happened this month, sets it at USD 3 per person per day.
By 2027, the per capita GDP of high-income economies will be roughly where it had been expected to be before the COVID-19 pandemic. But developing economies would be worse off, with per capita GDP levels 6 percent lower.
There will also be an immediate merger of the technical secretariats of the African Union Commission (AUC), EAC and SADC into a Joint Secretariat, led by the AUC in Addis Ababa, to operationalize the joint structure.
As Chinese and European Union (EU) leaders met in Beijing for the 25th China-EU Summit, both sides agreed on a new mechanism to help smooth the export of rare earth elements and magnets.