Why is Peru a ledc not a medc?

Answer 1

Peru is classified as a Less Economically Developed Country (LEDC) due to its lower income levels, high poverty rates, and limited access to education and healthcare services for a significant portion of its population. While it has experienced economic growth driven by mining and agriculture, disparities in wealth and infrastructure persist, particularly in rural areas. Additionally, challenges such as political instability, corruption, and vulnerability to natural disasters further hinder its development. In contrast, More Economically Developed Countries (MEDCs) typically enjoy higher standards of living, better public services, and greater economic stability.