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Low-income developing countries

Definition

Low-income developing countries are nations with low gross national income (GNI) per capita according to World Bank classifications. These countries often struggle with issues such as poverty, low levels of education and healthcare.

Analogy

Think of the world economy as a giant school. Low-income developing countries are like students who don't have enough resources for their studies - they might not have textbooks, stationery or even proper classrooms.

Related terms

High-Income Countries: These are nations with a high gross national income (GNI) per capita. They typically have highly developed infrastructure and high standards of living.

Middle-Income Countries: These are nations that fall between low and high-income countries in terms of GNI per capita. They often show signs of industrialization and improving standards of living.

Least Developed Countries (LDCs): This is a term used by the United Nations to describe those countries which are most lacking in terms of economic development, human resources, and institutional capacity.