Bangladesh has graduated to a lower-middle income economy from a lower-income country, according to the latest data published by the World Bank yesterday.
The WB, in its data, elevated Bangladesh and three other countries as lower-middle-income economies on the basis of their per capita gross national income (GNI).
The lending agency calculates per capita GNI on the basis of the gross national income of a country by converting it to US dollars divided by the midyear population using its Atlas method.
Apart from Bangladesh, the other three countries that got their status upgraded are Kenya, Myanmar and Tajikistan. For the current fiscal year, these four economies registered a per capita GNI ranging from $1,046 to $4,125.
Each year on July 1, the World Bank revises analytical classification of the world's economies based on estimates of GNI per capita for the previous year.