The World Bank, the second largest international economic institution with the International Monetary Fund (IMF), has officially downgraded Algeria to lower middle-income status, a category of countries where income is considered “lower middle”. This new World Bank ranking is very bad news for Algeria, which is beginning to worry the international community because of its economic fragility, local media commented. The World Bank divides the world’s economies into four groups: low income, lower middle income, upper middle income and high income. In clearer terms, the World Bank uses the GNI per capita criterion to classify countries according to their income and wealth. The World Bank explains that classifications change for two reasons.

Source: The North Africa Journal July 05, 2020 14:15 UTC