Low Income Country (LIC)
This subdivision of countries is based on the World Bank income classifications (GNI per capita), which in 2019 was an income of $995 or below
A Low Income Country (LIC) refers to a country that has a lower Gross National Income (GNI) per capita compared to other countries. GNI per capita refers to the total income earned by a country, which includes both the income earned within the country and the income earned outside the country by its citizens.
LICs are usually characterized by low levels of economic development., weak infrastructure, poor health care systems, high levels of poverty, and limited access to basic services such as education and healthcare. They face significant challenges in boosting their economies, building infrastructure, improving education and healthcare, and lifting people out of poverty.
Examples of LICs include countries such as Ethiopia, Sudan, Yemen, Afghanistan, and Haiti, among others. These countries face significant challenges in addressing poverty, inequality, and economic development, and require support from international organizations, such as the World Bank and International Monetary Fund (IMF), to help them break out of poverty.
As a tutor, it’s important to understand the unique challenges facing LICs in order to prepare students to effectively navigate and address these challenges in their future careers.
More Answers:
Understanding Migration Counterstreams: Reasons, Patterns, and Implications for Social Science.Understanding the Reasons and Impacts of Migration in Economic, Political, Environmental, and Social Aspects
Understanding the Rise and Role of Megacities in Today’s Global Landscape