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How can literacy rate be an economic indicator?

How can literacy rate be an economic indicator?

Literacy rate is an outcome indicator to evaluate educational attainment. This data can predict the quality of future labor force and can be used in ensuring policies for life skills for men and women. Many countries report the number of literate people from self-reported data.

What are the indicators of economic development?

Economic growth measures the annual increase in GDP, GNP, GDP per capita, or GNP per capita. Inequality of wealth is the gap in income between a country’s richest and poorest people.

How is HDI measured?

The HDI is calculated as the geometric mean (equally-weighted) of life expectancy, education, and GNI per capita, as follows: The education dimension is the arithmetic mean of the two education indices (mean years of schooling and expected years of schooling).

What country has lowest HDI?

Niger

What is HDI value?

The HDI is a summary measurement of basic achievement levels in human development. The computed HDI of a country is an average of indexes of each of the life aspects that are examined: knowledge and understanding, a long and healthy life, and an acceptable standard of living.

Which country has 1st rank in HDI?

Top Five Countries That Topped The HDI: According to the report, Norway topped the Human Development Index, followed by Ireland, Switzerland, Hong Kong, and Iceland.

Which country has the best HDI?

Norway

Is Nigeria a safe country?

There is a high level of crime throughout Nigeria, including armed robbery, kidnapping for ransom, home invasions, carjacking and violent assault. Criminal activity is high in urban areas, including the city of Lagos, as well as on the northern border with Niger and Chad.

Is Nigeria a 3rd world country?

China is a Second World country by historical definition, as it was part of the Communist Bloc. China is a developing country today and is part of BRICS….Third World Countries 2021.

Country Human Development Index 2021 Population
Rwanda 0.524 13,276,513
Nigeria 0.532 211,400,708
Zimbabwe 0.535 15,092,171
Syria 0.536 18,275,702

Where does Nigeria rank in the world?

27th

How much is Nigeria owing the World Bank?

DMO: Nigeria owes World Bank, IMF, AfDB $31.98bn.

Is Nigeria still owing China?

Official figures show that Nigeria’s debt to China grew 136% between September 2015 and September 2020, from $1.4 billion to $3.3 billion. Nigeria spent $195.5 million to pay its debt to China in 2020, or about 12.6% of the $1.6 billion it spent servicing all its external debt.

Which bank in Nigeria is world wide?

Oceanic Bank International Plc was one of the most recognized financial services brands in West Africa. It was acquired by Ecobank Nigeria in 2011….Top 10 Banks in Nigeria.

Rank Name Total Assets, NGN b (June 30, 2017)
1 Zenith Bank 4,927.37
2 FBN Holdings 4,881.07
3 United Bank for Africa * 3,690.29

How much is Nigeria owing in total?

In 2019, the national debt of Nigeria amounted to around 111.54 billion U.S. dollars….Nigeria: National debt from 2015 to 2025 (in billion U.S. dollars)

Characteristic National debt in billion U.S. dollars

Which country owes the most money to China?

Djibouti

How much debt does Africa owe China?

As Africa’s largest bilateral creditor, China holds at least 21 percent of African debt — and payments to China account for nearly 30 percent of 2021’s debt service, as shown in the figure below.

How much of the world owes China?

According to a report by Institute of International Finance report published in January 2021, China’s outstanding debt claims on the rest of the world rose from some US$1.6 trillion in 2006 to over US$5.6 trillion by mid-2020, making China one of the biggest creditors to low income countries.

Who has more debt China or USA?

China takes the second spot among foreign holders of U.S. debt with $1.07 trillion in Treasury holdings in April 2020, just behind Japan. 2 China has trimmed its holdings and this is the lowest amount held in the last two years. It currently holds 15.5% of the foreign debt.

Why is America in debt?

Why the U.S. Debt Matters The U.S. debt is the total federal financial obligation owed to the public and intragovernmental departments. Social Security is one of the United States’ largest debt holders. U.S. debt is so big because Congress continues both deficit spending and tax cuts.

How much is America in debt?

The $28 trillion gross federal debt includes debt held by the public as well as debt held by federal trust funds and other government accounts.

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