In the least convenient possible world: I take it that in this case, that world is the one where wealth is distributed equally enough that one penny means the same amount to everybody, and every cheaper opportunity to save a life has already been taken advantage of.
Why would a world that looked like that have a starving African child? If we all have X dollars, so a penny is worth the same to everyone, then doesn't the starving African child also have X dollars? If he does, and X dollars won't buy him dinner, then there just must not be any food in his region (because it doesn't make any sense for people to sell food at a price that literally no one can afford, and everybody only has X dollars) - so X dollars plus (population x 1¢) probably wouldn't help him either.
Perhaps you had a different inconvenient possible world in mind; can you describe it for me?
One where the African child really does need that cent.
In line with my fine tradition of beating old horses, in this post I'll try to summarize some arguments that people proposed in the ancient puzzle of Torture vs. Dust Specks and add some of my own. Not intended as an endorsement of either side. (I do have a preferred side, but don't know exactly why.)
Oh what a tangle. I guess Eliezer is too altruistic to give up torture no matter what we throw at him; others will adopt excuses to choose specks; still others will stay gut-convinced but logically puzzled, like me. The right answer, or the right theory to guide you to the answer, no longer seems so inevitable and mathematically certain.
Edit: I submitted this post to LW by mistake, then deleted it which turned out to be the real mistake. Seeing the folks merrily discussing away in the comments long after the deletion, I tried to undelete the post somehow, but nothing worked. All right; let this be a sekrit area. A shame, really, because I just thought of a scenario that might have given even Eliezer cause for self-doubt: