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What are Less Developed Countries (LDCs)?
Less Developed Countries:
Developing countries are frequently considered to as less developed countries. The World Bank categorizes all countries into the low or middle income group (that is GNP per capita of less than 6,000 dollar) like LDCs.
Is the balance of payments a problem? A persistent balance of payments shortage is bad when used to finance consumption, but good when financing imports of suitable capital wh
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