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Together with 16 other Millennium Development Goals, the global community has committed itself to halving by 2015 the proportion of the world's population that lives in poverty and suffers from hunger. While the goals of reducing poverty and hunger may seem intertwined, a review of the existing literature suggests this may not be the case. This paper contributes to this debate, using an analysis based on the impact of Mexico's Programa de Educación, Salud y Alimentación (PROGRESA).