LDC Graduation Deferred
Summary
The United Nations General Assembly has extended Nepal’s preparatory period for graduation from Least Developed Country status by three years, pushing the deadline to 24 November 2029. The government and business community say the extra time is needed to strengthen productive capacity, exports and economic resilience.
Key Points
- The UN General Assembly has extended Nepal’s LDC graduation preparatory period from 24 November 2026 to 24 November 2029.
- Nepal had earlier planned to graduate in 2018 and later in 2021, but both timelines were deferred after the earthquake and the COVID-19 pandemic.
- The Ministry of Foreign Affairs says Nepal will use the extra time to strengthen institutions, productive capacity and its smooth transition strategy.
- FNCCI welcomed the extension, warning that premature graduation could hurt industries, exports and employment.
