CAIRO: The Secretary General of the United Nations Ban Ki-moon and the Director of the UNDP Helen Clark along with Nobel laureate Amartya Sen, issued the Human Development Report for 2010, which came under the title “Real Wealth of Nations: Paths to Human Development.” The situation for Egypt was not promising. The report showed that Egypt's ranking was advanced to number 101 in the Human Development Index in the period from 2005 to 2010, jumping two places, however Egypt was also ranked 17 among 135 countries that have made progress in the achievements of long-term development, the report said.. The report said that five Arab countries are among the top countries in the achievements of long-term development and include Egypt, Oman and Saudi Arabia, Tunisia and Algeria. The report added that Egypt was among the countries with medium human development, with a per capita of $5.8 of GDP. Norway was ranked number one in the index to keep its top ranking, while Australia was ranked number two, followed by New Zealand and the United States in the third and fourth, respectively. The report pointed out that 10 countries achieved the fastest progress in improving the elements of the human development index out of 135 countries included in the report, such as the Oman, which topped the list and “has achieved development without the elements related to income,” followed by China, Nepal, Indonesia, Saudi Arabia, Laos, Tunisia, Korea, Algeria and Morocco. Countries such as Mali, Burkina Faso, Liberia, Chad, Congo, Niger, Guinea Bissau, Mozambique, Burundi and Zimbabwe were ranked at the bottom of the index. Egypt also declined to number 38 globally in the financial development index for 2010, issued by the World Economic Forum among 57 countries worldwide, compared to number 36 in 2009. Egypt was surpassed by a number of Arab and African Countries, including the United Arab Emirates, number 21, Bahrain at 23, Saudi Arabia at 26, Kuwait at 28, Jordan at 29 and South Africa at number 31. The index measures the performance of each country in accordance with 7 global indicators: financial stability, institutional environment, business environment, financial services, banking, financial services, financial markets, and financial viability. With regard to measuring the performance of the Egyptian economy, according to seven indicators Egypt was ranked number 21 globally in financial solvency. In the field of business environment Egypt was ranked 48; at the level of financial stability, 35; and in the field of banking financial services it ranked 42; and at the level of financial markets was ranked 38th. BM
