countries at very low levels of economic development
- since 1968 countries in the world have been categoried as LEAST DEVELOPED COUNTRIES, the UN describes them as the poorest and most economically weak of the developing countries with formidable economic institutional and human resource problems which are often compunded by environmental disasters.
- 2000 UN recognised 50 cape verde was removed in 2007 and Maldieves in 2011 they were removed due to them attacting tourism
- the majority are in sub saharan africa (31), south east asian and small islands of the pacific
LDCs have following features
1.low incomes below $800 GDP per year
2. human resource weakness low nutrition health, education, life expectancy, calorie intake
3. economic vulnerability
as well as poverty they may suffer from
- wars and conflict- somalia civil war
-political corruption- may have elections but they are corrupt
-lack of political and social stability
QUALITY OF LIFE:
- large proportion of people do not have enough income in order to support themselves
- it is estimated that 277 million people live on less than $1 a day in constrast to where as asia 374 live on less than $2 a day. despite economic growth in some LDCs they are still bery much dependent upon external finance as money fails to trickle down .
from 1970s onwrads as a result of borrowing money from the banks of the developed world countries found themselves in a debt crisis- experts put this down…