This Tuesday the President of the World Bank Paul Wolfowitz is in Prague to
mark an important shift in how the Czech Republic is viewed. Until now,
the
country was officially labelled a developing country; since the fall of
communism in 1989 it has been a beneficiary of World Bank funds that have
had a profound impact on the country's transformation to a market economy
and becoming a full-fledged democracy. Now, on February 28th, the Czech
Republic officially graduates to 'developed'. That has been a long-time
coming, agreed formally a year ago, and is of course largely symbolic.
But, the shift will also have some significant effects.

Link To Original Article (http://www.radio.cz/en/article/76314)