Patterns of Development
Geography: Edexcel IGCSE, topic 3.3.6
Current Patterns of Global Development
The International Monetary Fund (IMF) categorises countries by their stages of development. The IMF also gives some nations loans when they have financial emergencies.
What are the IMF's 3 categories of development?
- The IMF has 3 categories of country:
- Advanced countries (ACs).
- Emerging developing countries (EDCs).
- Low-income developing countries (LIDCs).
How does the IMF classify countries?
- 31 countries (16% of the world's countries) are ACs. They include New Zealand, Portugal, the USA, the UK, and Canada. Korea and Singapore are the only Asian ACs. The rest are in Europe, North America, or Australasia.
- 45% of countries are EDCs. They include India, China, Chile, Indonesia, the Philippines, and Thailand.
- 38% are LIDCs. Most LIDCs are in Africa. Afghanistan, the DRC, and Kenya are classified as LIDCs.
Test yourself on Patterns of Development
What percentage of the world's countries are EDCs?
What continent are most of the LIDCs found in?