Muhammad Ali Bukhari from Toronto
[2] On March 2, the United Nations Department of Economic and Social Affairs Economic Analysis said, “The Committee for Development Policy (CDP) held its 23rd Plenary Session from 22 to 26 February 2021. During the meeting the CDP conducted the triennial review on the LDC (Least Developed Countries) category, recommending Bangladesh, Lao People’s Democratic Republic and Nepal for graduation from the list of LDCs. The next steps on this recommendation are for Economic and Social Council (ECOSOC) to endorse it and for the General Assembly to take note.
[3] The CDP also discussed, among other topics, the impact of Covid-19 on LDCs and its input into the preparatory process of the 5th UN Conference on LDCs (LDC5). A briefing to Member States on LDC-related issues addressed during the meeting was held after the conclusion of the Plenary.”
[4] But, what does it mean by graduation from LDC for Bangladesh? Basically, this graduation contains three vital components. First, country passes graduation thresholds of any 2 criteria or alternatively, GNI (Gross National Income) per capita is at least twice the graduation threshold (‘Income-only’ rule). Second, country must meet criteria at two consecutive reviews. Third, no automatism: additional information is taken into account.