Burundi and the Democratic Republic of Congo are among the top 10 poorest countries in Africa in 2024, according to a report by the International Monetary Fund, IMF.
Every year, the IMF publishes a list of countries’ economic statuses and the income of the people based on the Gross Domestic Product, GDP, divided by the total number of population (to get GDP per capita), which shows how much each citizen earns in the year.
The report of 2024 shows that one Burundian earns $936 per year, making this landlocked the second poorest country in Africa, behind South Sudan whose citizens earn $492 per year.
Political instability and an economy based on agriculture are some of the main reasons for making Burundi one of the poorest countries in Africa.
The Democratic Republic of the Congo also ranks fourth in the top 10 countries with the poorest population, as one Congolese earns $1,565 per year.
The IMF points out that small countries such as Liberia and Burundi suffer due to a lack of natural resources, a weak financial system, and high taxes that discourage foreign investors from investing in the country.
Countries with large land areas, such as the Democratic Republic of Congo, have been shown to suffer due to internal conflicts, political unrest, inadequate infrastructure, and corruption among government officials.
Other poorest countries in Africa included Liberia with a GDP Per Capita of $1,881, Malawi with a GDP Per Capita of $1,712, Mozambique with a GDP Per Capita of $1,653, and the Central African Republic (CAR) with a GDP Per Capita of $1,138.