Bangladesh to erase LDC bracket in 2024: UNCTAD

Bangladesh is expected come out of the LDC (Least Developed Country) bracket in 2024, according to a report of the United Nations Conference on Trade and Development (UNCTAD).

Centre for Policy Dialogue (CPD) organised a media briefing on the launching of an UNCTAD report titled 'The Least Developed Countries Report 2016' in Dhaka on Saturday, as part of the global launch of the report on Dec 13.

CPD Research Fellow Towfiqul Islam Khan shared salient features of the report subtitled 'The path to graduation and beyond: Making the most of the process' which highlighted Bangladesh scenario, with the journalists.  

Distinguished Fellow Debapriya Bhattacharya and Research Director Fahmida Khatun, among others, spoke at the briefing.

"The UN measures the status of a country in three criteria - income, human asset index and economic vulnerability index. Bangladesh is projected to graduate in 2024 meeting in all three criteria," Khan said.

He added that the country will get help as an LDC from the developed countries until 2027 in line with rules even it manages to have its name erased from the list in 2024.

Khan observed that three key determinants are vital for the smooth transition.

They are accelerated transformation of rural economies, proactive sector-specific industrial policies and realising science, technology and innovation policy.