Preparations on to face post-LDC challenges: Muhith
Published : 21 Mar 2018, 16:15:29
Finance Minister AMA Muhith on Wednesday said Bangladesh is taking all preparations to face the challenges after graduation from Least Developed Countries (LDCs) in 2024.
"We have already started preparing ourselves for overcoming the challenges after graduation from LDCs . . . we are freeing up space for the other countries as they can get benefits as LDCs" he said, addressing a press conference at the Finance Ministry in the city.
The Finance Ministry organised the press conference marking the five-day progarmmes to celebrate the country's eligibility to graduate from LDC.
Muhith said though Bangladesh will officially remain as a LDC until 2024 in the United Nations list, it will be regarded as a developing country globally.
As per the programmes, the Finance Minister said, the UN certificate conveying the announcement on the country's eligibility to graduate from the LDC group to a developing country will be handed over to Prime Minister Sheikh Hasina at a function at Bangabandhu International Conference Centre (BCIC) tomorrow at 10 am.
He said Prime Minister Sheikh Hasina will inaugurate the nationwide celebrations at Bangabandhu National Stadium tomorrow evening. A laser show and cultural programme will also be held on the occasion, he added.
He informed that the programme will remain open to all.
On March 23, he said, a seminar will be held at Radisson Blu Dhaka Water Garden and a laser show and water display will be held at Hatirjheel Lake in the evening.
Responding to a question, Muhith said, as the people of Bangladesh loves celebrating any occasion, the country will celebrate its eligibility for graduation from the LDC group though it will wait until 2024 for the final graduation to a developing country.
About the challenges during the graduation period, he said, "The main challenges will be to change our outlook and reduce concessional loans from donor countries."
State Minister for Finance and Planning MA Mannan, Prime Minister's Principal Secretary Md. Nojibur Rahman, Principal Co-ordinator (SDG Affairs) M Abul Kalam Azad and Additional Secretary to the Economic Relations Division Monwar Ahmed also spoke at the press conference.
Chief of Secretariat of the Committee for Development Policy (CDP) Roland Mollerus handed to Bangladesh Permanent Representative (PR) at the UN Masud Bin Momen an official letter conveying the announcement of Bangladesh's eligibility at an event organized at the Bangabandhu Auditorium of Bangladesh Mission on 17 March, 2018.
Bangladesh is the only country to have met all the three criteria at the same time for becoming eligible to graduate from the LDC bloc.
The three criteria are Gross National Income (GNI) per capita, Human Assets Index (HAI) and Economic Vulnerability Index (EVI). According to the UN's graduation threshold, the GNI per capita of a country has to be $1,230 or above. Bangladesh's GNI per capita rose to $1,610 at the end of fiscal year 2016-17.
On the other two indexes -- human assets and economic vulnerability -- a country has to score 66 or above and 32 or below respectively.
Bangladesh's score in the human assets index stood at 72.9 and the economic vulnerability index is 24.8, meaning the country meets all the criteria.-BSS