ZAMBIA RELEGATED TO LOW INCOME COUNTRY

WORLD BANK CLASSIFIES ZAMBIA AS LOW INCOME COUNTRY 

By Alfonso Kasongo 

The World Bank has relegated Zambia to a low income country status from the lower-middle income country for 2023 financial year. 

This has been necessitated by the destruction of Gross National Income (GNI) per Capita estimates recorded in 2021.

GNI Per Capita is the dollar value of a country's final income, or GNI divided by its population. A country's GNI is based upon the Gross Domestic Product (GDP) which measures the value of all goods and services produced within the country's physical territory. 

Zambia's 6th Reublican President Edgar Lungu handing over instruments of power to 7th President Hakainde Hichilema at Heroes Stadium in Lusaka during the latter's inauguration in 2021
               

Low-income countries,are synonymous with undeveloped, developing countries and are those which have the weakest economies when evaluated by the World Bank,an international coalition of 189 countries dedicated to reducing poverty around the world.

As part of its work, the World Bank analyzes the economic health of all the world's countries and places each into one of four categories, from low income to high income, based upon its gross national income (GNI) per capita. GNI is a metric that essentially measures the average income of a country's citizens, making it a very useful tool for evaluating a country's economic health.

The World Bank adjusts the dividing line between categories every year, to reflect global inflation. 

https://worldpopulationreview.com/country-rankings/low-income-countries 

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