The "ed" means done or past tense. If they have started the process and not finished then they are developing. When they finish (ie issued) they will be "developed"
For instance "Rates are thought to be similar in developed countries around the world." - They are done developing they are now developed countries.
It is semantics I know. But again, this is a legal document and the EXACT wording matter. Every word and every comma matters.
This is my last post today. I will respond tomorrow if someone can show my grammar knowledge is incorrect.
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