The World Bank announced last week its new income classification for countries that could potentially influence the type of assistance these nations may receive from the Washington, D.C.-based financial institution.
The new threshold, traditionally based on a nation’s per capita income, grew consistently across all income classifications. Countries are considered low-income if their gross national income per capita is $1,045 or less — up by $10 from $1,035 last year — while the threshold for the lower-middle income countries also increased to $1,046 to $4,125 from $1,036 to $4,085 last year.
GNI per capita for upper-middle income countries, on the other hand, grew to $4,126 to $12,746 — up from $4,086 to $12,615 last year — while the threshold for high-income countries also spiked to at least $12,746 from $12,616 a year ago.