World Bank drops the term “developing country”

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How does one define a “developing” country?  Despite categorising 159 nations in this way, neither the International Monetary Fund (IMF) nor the World Bank nor the United Nations had any standard criteria for categorising countries in this way and nobody ever agreed on a definition for these terms in the first place.

[fulltext] =>

How does one define a “developing” country?  Despite categorising 159 nations in this way, neither the International Monetary Fund (IMF) nor the World Bank nor the United Nations had any standard criteria for categorising countries in this way and nobody ever agreed on a definition for these terms in the first place.

 

The World Bank has now decided to drop the term “developing country” from its data vocabulary.  The change marks an evolution in thinking about the geographic distribution of poverty and prosperity. 

 

Part of the story is the success of development efforts in the past few decades.  It is also about updating mental models of the developing countries.  The old way of thinking of the developing world as a place where there has been no progress is not very helpful.  Development is everyone’s problem, especially in view of the sustainable development goals (SDGs) which view every country as needing development.

 

Read the original World Bank article. 

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This is an evolution in thinking about the geographic distribution of poverty. 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How does one define a “developing” country?  Despite categorising 159 nations in this way, neither the International Monetary Fund (IMF) nor the World Bank nor the United Nations had any standard criteria for categorising countries in this way and nobody ever agreed on a definition for these terms in the first place.

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How does one define a “developing” country?  Despite categorising 159 nations in this way, neither the International Monetary Fund (IMF) nor the World Bank nor the United Nations had any standard criteria for categorising countries in this way and nobody ever agreed on a definition for these terms in the first place.

 

The World Bank has now decided to drop the term “developing country” from its data vocabulary.  The change marks an evolution in thinking about the geographic distribution of poverty and prosperity. 

 

Part of the story is the success of development efforts in the past few decades.  It is also about updating mental models of the developing countries.  The old way of thinking of the developing world as a place where there has been no progress is not very helpful.  Development is everyone’s problem, especially in view of the sustainable development goals (SDGs) which view every country as needing development.

 

Read the original World Bank article. 

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How does one define a “developing” country?  Despite categorising 159 nations in this way, neither the International Monetary Fund (IMF) nor the World Bank nor the United Nations had any standard criteria for categorising countries in this way and nobody ever agreed on a definition for these terms in the first place.

 

The World Bank has now decided to drop the term “developing country” from its data vocabulary.  The change marks an evolution in thinking about the geographic distribution of poverty and prosperity. 

 

Part of the story is the success of development efforts in the past few decades.  It is also about updating mental models of the developing countries.  The old way of thinking of the developing world as a place where there has been no progress is not very helpful.  Development is everyone’s problem, especially in view of the sustainable development goals (SDGs) which view every country as needing development.

 

Read the original World Bank article. 

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