In the 1960s, there were high hopes for the development of the newly-independent sub-Saharan African countries but these hopes were quickly dashed following a series of shocks which began in the mid-70s, with the first oil price spikes, followed by a severe decline in growth and increase in poverty in the 80s and early 90s.
The 48 least developed countries (LDCs), described as the poorest of the world's poor, want to be an integral part of the U.N.'s post-2015 development agenda currently under discussion.
The world’s poorest countries are rethinking economic policies that - even during periods of breakneck growth - have failed to provide quality employment capable of matching a demographic boom.
The number of "least developed countries" (LDCs), which rose from the original 24 back in 1971 to the current 49, is beginning to shrink - haltingly.
The Monetary Board of Sri Lanka’s Central Bank, tasked with keeping the island’s economy on an even keel, does not only keep tabs on exchange rates, gold prices and inflation – it also has an eye on a less obvious indicator of economic stability: water levels in the country’s main reservoirs.
Remittances to the world’s poorest countries reached a record 27 billions dollars in 2011, according to a report released Monday by the United Nations Conference on Trade and Development (UNCTAD) in Geneva.
Bangladesh has begun to shed its image as one of the world’s poorest nations and make a reputation for itself as a major exporter of cheap generic drugs to over 85 countries.