There are two criteria that the government uses, but the major one is basically where countries have more than $4,000 a year in per capita GDP. That's really small. We're talking about a number of countries whose per capita wealth is one tenth of Canada's, so they're still quite developing.
The problem is that once you start raising that up to $5,000, $6000, or $7,000, you start hitting countries such as India and Indonesia. So basically, if you want to include a set that includes India and Indonesia, and even China, there's a lot of collateral damage there, unless you're going to specify them.
I think that's really what has happened. They had to set the bar so low that they caught a number of countries—like Equatorial Guinea, as you pointed out—that no one would really think of as being developed.