Original: It estimates that "in 2001, 1.1 billion people had consumption levels below $1 a day and 2.7 billion lived on less than $2 a day."
Simplified: Moderate poverty is when people have to live on less than $2 a day. In the year 2001, 1.1 billion people were seen as extremely poor, and 2.7 billion were seen as moderately poor.