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Why Is Latin America Still Poor? 🤔

Why Is Latin America Still Poor? 🤔 Many people around the world think of Americans as a wealthy nation. But, when you think of America as a continent, this statement is pretty much contradicted. While it may be true that the people living in the US are somewhat well off, this is not necessarily the case with Latin America. Latin America, more commonly referred to as South America, is very poor. Contrary to beliefs, 94.5% of the population living in this area of land is in borderline poverty. But, the question arises here why is it so? Why, on the very same continent, are some people living lives in extreme poverty while others are enjoying luxuries? And how have different things held Latin America back, pushing it into the depths of poverty? Despite having a talented population and being blessed by natural resources, which the North Americans don’t really have, poverty is pervasive in most of South America's nations. Suriname, Bolivia, Guyana, and Venezuela have the greatest poverty rates per capita. Some of these countries have improved as a result of recent political changes. Most South American economies are trying to combat poverty by introducing microeconomic policies to lessen poverty, tougher economic restrictions, and foreign direct investments. But, despite all these countermeasures, the root causes of poverty in Latin America remain, preventing it from really moving in the right direction. The direction is very much beneficial for the citizens if they ever want to live a comfortable life which is their basic right. The following factors play a very vital role in the destruction of the South American economy.