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‘Bangladesh will take 26 years to come out of LDCs’. Why not earlier? January 26, 2010

Posted by bdoza in BANGLADESH, ECONOMY, GOVERNANCE.
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Finance Minister Muhith told in a meeting of the Asia Pacific Round of LDCs held in Dhaka that Bangladesh will take 26 years to come out of the LDCs. We are at the begenning of 2010, so it will be in 2036 that according to our Finance Minister we could be out of LDCs.

The criteria for inclusion in LDCs are defined as
1) a low-income criterion, based on a three-year average estimate of the gross national income (GNI) per capita (under $750 for inclusion, above $900 for graduation);

2)a human resource weakness criterion, involving a composite Human Assets Index (HAI) based on indicators of: (a) nutrition; (b) health; (c) education; and (d) adult literacy; and
2)an economic vulnerability criterion, involving a composite Economic Vulnerability Index (EVI) based on indicators of: (a) the instability of agricultural production; (b) the instability of exports of goods and services; (c) the economic importance of non-traditional activities (share of manufacturing and modern services in GDP); (d) merchandise export concentration; and (e) the handicap of economic smallness (as measured through the population in logarithm); and the percentage of population displaced by natural disasters. (E/2004/33)

49 countries are enlisted as LDCs-33 from Africa, 15 from Asia and Pacific area and 1 from Latin America. Cape Verde lifted out of the list at the end of 2007. Bangladesh enlisted as LDC in 1973 and it is staying so in the list.

Brussels Programme of Actions were adopted by the Third United Nations Conference on the Least Developed Countries in Brussels on 20 May 2001, were also endorsed by the General Assembly in its resolution 55/279 of 12 July 2001.

The Programme of Actions for the Least Developed Countries (LDCs) for the Decade 2001-2010 aims at improving human conditions of the population of the LDCs and provides a framework for partnership between LDCs and their development partners “to accelerate sustained economic growth and sustainable development in LDCs, to end marginalization by eradicating poverty, inequality and deprivation in these countries, and to enable them to integrate beneficially into the global economy”.

The overarching goal of the Programme of Action for the Least Developed Countries (PoA) is “to make substantial progress toward halving the proportion of people living in extreme poverty and suffering from hunger by 2015 and promote the sustainable development of the LDCs”. The Programme of Action contains 30 international development goals, including those contained in the Millennium Declaration . They are embedded in the commitments of the LDCs and their development partners.

It is observed in the Dhaka meeting,”Despite impressive progress, this region is still home to 980 million people, who live on less than $1.25 a day and suffer from many non-income deprivations. Latest reports suggest that the incidence of poverty in the region could increase by an additional 35 to 40 million people due to the global economic crisis of 2008 and 2009. Most of these poor and vulnerable people are in the LDCs. For them progress has been too slow,”

Suggestions put forward for LDCs in the meeting are
-inclusive,comprehensiveand sustainable developmental strategies
-increase the productive capacity,diversification of exportable products, enhancing quality, social and income protection and building up trade related infrastructure
-balanced financial system, investment in small and medium enterprizes and exploitation of regional trade potentials
-devise effective national policies

Muhith added,”Bangladesh face the same problem as other LDCs-lack of resources, poor governance and limited access to the market of the develop countries. … Bangladesh has reducred poverty from 58% to 40% of the population over the last 13 years. .. The difficulties for Bangladesh is energy, food and financial crisis over the decades”.

Can’t Bangladesh step out of the LDCs earlier than 26 years? Prescriptions are laid out, but we miserably fail to implement those.

An ordinary citizen
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Comments»

1. Patriot - January 26, 2010

It is very sad to see that Bangladesh is still in line with Bhutan, Napal and Maldives, some African countries and few unknown islands of the Pacific!

2. ibne siraj - January 27, 2010

Muhith said that increase of GDP to 8% will be required to step out of LDCs by 2021. He said that it is also possible to raise the GDP to 10%.
Is it? We are loitering at the level of 6% GDP growth for long. IMF predicted that this year Bangladesh will not cross 6%, though BB Governor hopes a better status at 6.2%.

3. Nasif - February 20, 2010

Ekhono 26 years lagbe??!


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