Written by The Banking Post
The United Nations will support an independent readiness assessment for Bangladesh ahead of its planned graduation from Least Developed Country (LDC) status, officials said.
The announcement came after a meeting in New York on Monday between UN Under-Secretary-General Rabab Fatima and Chief Adviser Prof Muhammad Yunus. Fatima, who also serves as the UN High Representative for LDCs, Landlocked Developing Countries, and Small Island Developing States, said the assessment is expected to start within a month and conclude by mid-January.
The review will be conducted jointly by an international consultant and a Bangladeshi expert, ensuring a comprehensive evaluation. It will include consultations with government officials, business chambers, development experts, civil society, donors, financial institutions, and political representatives.
Chief Adviser Yunus welcomed the initiative, stressing the need for objective evidence to guide policy decisions. “It has become an emotional issue,” he said, highlighting the importance of data-driven planning.
Fatima noted that the UN’s most recent economic data on Bangladesh are over two years old. “A lot has changed since then,” she said, stressing the need to reassess the country’s current economic landscape.
Yunus also raised concerns about the pharmaceutical sector, which has benefited from trade preferences linked to LDC status. He warned that graduation could put the industry at risk if proper transition measures are not implemented.
