Classification of countries and G-20
The Turkish Presidency for the G-20 has declared inclusion as the main theme of their focus. Several meetings and conceptual papers are being circulated for wider debate, discussion and deliberation across different stakeholders. In this context, Turkey has recently circulated a paper on Low Income Developing Countries (LIDC) with a title ‘Proposal for Work Under the Turkish Presidency: G-20 and Low Income Developing Countries.
The idea of low income developing countries is not a new development. It has been there in the literature, particularly the International Monetary Fund (IMF) has used LIDCs as a reference point for addressing the problems of a specific group of countries. The paper throws up several conceptual issues which need to be examined in detail before we move further with the proposal from the Turkish Presidency. The World Bank has contributed to the paper by providing inputs for a framework study on the issue.
This Briefing presents the classification of countries as perceived by the World Bank, the IMF and The United Nations, and compared them vis-à-vis the proposal of the Turkish Presidency.