less developed country

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Also found in: Acronyms.

Less Developed Country

A country with lower GDP relative to other countries. Less developed countries are characterized by little industry and sometimes a comparatively high dependence on foreign aid. Less developed countries often undertake programs of development, with greater or lesser interventions on the part of the national governments. They are major borrowers from organizations such as the World Bank. While no strict definition of which countries are less developed exists, most countries that do not belong to the OECD are considered less developed. See also: International development.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

less developed country (LDC)

A country with relatively low per capita income and little industrialization. Less developed countries have been major borrowers from a number of banks worldwide.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

less developed country (LDC)

see DEVELOPING COUNTRY.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Speaking to participants Mr Nisar Maseih, representative UNESCO, stated that Pakistan is an under-developed country where 38 per cent of population is absolutely illiterate in urban areas while this ratio is 45 per cent in rural areas.
He quotes one observer's description of Afghanistan as "a road-less, broken and under-developed country; an absence of any strategic points; a well-armed enemy with great mobility and modern rifles, who adopts guerrilla tactics.
And not in some far-off under-developed country. Right here in Britain and Europe.
It compares well with the system in the USA where a good proportion of the population are not covered by insurance schemes and their standard of care is more like what it would be in an under-developed country.
"But Afghanistan is an under-developed country and these things have to come second to things like education and work."
Until now, Ireland has received generous regional and farm aid as it has always seemed a remote and under-developed country. But in recent years, the island has become a 'Celtic Tiger', with by far the most spectacular growth rates in the EU.
They said that in their minds they had an image of Pakistan as an under-developed country but when they saw the video they were surprised.