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Sunday | November 01, 2026 | Dhaka

Three Years to LDC Graduation: The Clock is Ticking

 New Nation
 Published: 12:02 AM, 01 November 2026  Updated: 10:09 PM, 31 October 2026

BANGLADESH had been requesting additional time for some more years to prepare for its graduation from the list of Least Developed Countries (LDCs).

The United Nations General Assembly (UNGA) has unanimously approved the resolution by granting the country a three-year extension to defer its graduation from the LDC category.

This UNGA approval can be viewed as a diplomatic success for the country. Then again, there is little reason to regard this decision as a source of relief.

Because, the time must be used to strengthen preparations for the transition and to take the necessary steps to ensure that the transition process is sustainable.

To ensure a smooth transition following the economic and developmental setbacks caused by the coronavirus pandemic, Bangladesh, along with a few other nations, was granted an exceptional five-year preparatory period.

On November 24, 2021, the United Nations General Assembly set November 24, 2026, as the date for Bangladesh’s graduation.

According to a new decision reached last Thursday, Bangladesh’s formal graduation from the Least Developed Country category will now take place on November 24, 2029.

We must not forget that graduating from LDC status will bring a number of challenges. For instance, Bangladesh will no longer enjoy the benefits it currently receives in the global market as an LDC.

Furthermore, the concessional-interest loans available to Bangladesh as an LDC will no longer be accessible.

Additionally, tariff preferences and intellectual property rights concessions in the international market will diminish.

Consequently, Bangladesh will face increased competition in the global marketplace.

Mentionable that Bangladesh was included in the list of Least Developed Countries in December 1975.

In two consecutive triennial reviews, conducted in 2018 and 2021, the country met the eligibility criteria for graduation based on three indicators: per capita Gross National Income (GNI), the Human Assets Index, and economic and environmental vulnerability.

However, qualifying for graduation is not the same as having the capacity to sustain the pace of development once international trade benefits, associated with LDC status, are reduced.

In fact, many countries have experienced a deepening of their economic crises following their graduation from the LDC category.

We believe that the three-year period available for the transition out of LDC status must be utilized effectively.

In particular, it is essential to address the weaknesses within the banking and financial sectors to restore an environment of trust.

Furthermore, steps must be taken to increase revenue collection, improve the investment climate, and secure the continuation of trade privileges in key export markets.