A necessary small revision to the EVI to make it more balanced and equitable

The Economic Vulnerability Index (EVI) has now been used for a long time (in fact since 2000), as one of the three criteria of identification of the Least developed Countries (LDCs) (Guillaumont 2009a, 2009b, CDP and UNDESA 2008). As such, and in particular since 2005, when its present structure was adopted, it has gained in notoriety and has become recognized beyond the LDCs identification exercise. In particular it has been proposed as a criterion for aid allocation, including in a UN GA resolution (A/C.2/67/L.51) (Guillaumont 2009b, 2013). This proposal has even been implemented by the European Commission for the allocation of its assistance among the ACP countries, and among the countries eligible to the Development Cooperation Instrument. For its double use of criterion of LDCs identification and aid allocation, the consistency of the EVI appears to be a matter of utmost importance.