World Development Indicators (WDI) is the primary World Bank collection of development indicators, compiled from officially recognized international sources. The figures of GNI per capita of different countries used belong to the World Bank fiscal year ending on June 30 of the year. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. The World Bank has announced plans for a $12bn (£9.3bn) initiative that will allow poor countries to purchase Covid-19 vaccines to treat up to 2 billion people as soon as … View the report here. Since the present income classification was first introduced 25 years ago there has been significant change in the global economic landscape. Number of Countries in each group: The extent to which the rankings and groupings will change as a result of coronavirus-related disruption is as yet unclear. The list of the least developed countries (LDCs) is decided upon by the United International capital flows to the 128 developing countries reporting to the World Bank Debtor Reporting System (DRS) fell by 20 percent in 2009 to $598 billion (3.7 percent of Gross National Income (GNI), compared with $744 billion in 2008 (4.5 percent of GNI) and a little over half the peak level of $1,111 billion realized in 2007. Worldwide Governance Indicators (www.govindicators.org), The World Bank 2019 ACRoss Space and Time: How Cultural and Institutional Differences Explain Consumer-Brand Relationships' Differential Effects on Brand Loyalty . Income group: The World Bank income categories are used as published in July 2012. For FY20 the classification uses GNI per capita for 2018. Till now, developing stood for low-and middle-income countries while high-income countries … With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The FCS classification and associated list of countries is to be updated annually by the WBG’s FCV Group, in consultation with key World Bank business units: Operations Policy & Country Services (OPCS), Development Finance (DFI), and Regions. As seen in the above chart, many countries' incomes have transcended the income group thresholds over time. The World Bank's classification of countries by income ... With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Classification: Countries & Regions/Income Group/Lending Category ← Data To find more information about the World Bank country classifications and their current cutoff figures, please visit the Country and Lending Groups page. The update is to be circulated by July 1 each year (after CPIAs are finalized). Developed countries are usually classified as high-income countries. In a nutshell, the outlook for the global economy has darkened, amid slowing activity and heightened downside risks. It is an important part of the World Bank Group’s efforts to promote economic development and shared prosperity by investing in education and developing human resources in the developing world. 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