Indonesia loses prized upper-middle income status amid pandemic

The World Bank downgraded Indonesia to lower-middle income status as of July 1, with a gross national income per capita of US$3, 870. - Starpic

JAKARTA (Bloomberg): Indonesia has lost its prized upper middle-income status after only a year, as Southeast Asia’s largest coronavirus outbreak reverses gains in poverty and employment.

The World Bank downgraded Indonesia to lower-middle income status as of July 1, with a gross national income per capita of US$3, 870. The country had graduated to upper-middle income status last year with a GNI per capita of $4, 050, its first time in that band since rankings going back to 1988.