What does LDC mean in International Business?
This page is about the meanings of the acronym/abbreviation/shorthand LDC in the Business field in general and in the International Business terminology in particular.
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What does LDC mean?
- Least developed country
- A least developed country is a country that, according to the United Nations, exhibits the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 of 18 November 1971. A country is classified as a Least Developed Country if it meets three criteria: Poverty Human resource weakness and Economic vulnerability LDC criteria are reviewed every three years by the Committee for Development Policy of the UN Economic and Social Council. Countries may "graduate" out of the LDC classification when indicators exceed these criteria. The United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States coordinates UN support and provides advocacy services for Least Developed Countries. The classification applies to 48 countries.