The people of Bangladesh have a reason to be optimistic that we are well and truly on our way to prosperity
Congratulations to Bangladesh for receiving the final recommendation from the UN Committee for Development Policy (CDP) for graduating from the least developed country (LDC) status, showing that we remain firmly on track and ready to graduate to a middle-income country.
Bangladesh has met, for the second time, all the three eligibility criteria for LDC graduation involving income per capita, human assets, and economic and environmental vulnerability -- a country becomes eligible for graduating from LDC status if it maintains a per capita gross national income (GNI) of $1,230 or above, a human assets index (HAI) of 66 or above, and an economic vulnerability index (EVI) of 32.
Bangladesh’s per capita GNI was $1,827, HAI 75.3, and EVI was 25.2 in 2020, comfortably meeting all the requirements. However, the fact that this is celebratory news, yet comes as a surprise to no one, is testament to the exemplary progress Bangladesh has made as a nation, particularly in the past dozen or so years.
To this end, credit must be given to Prime Minister Sheikh Hasina and a government committed to a vision of development, and all relevant stakeholders and authorities concerned who, despite the consistent and myriad challenges, have remained focused towards shedding the LDC tag that Bangladesh has had since 1975.
However, to now become complacent would be the gravest of errors. Bangladesh still has more work to do before it officially graduates, not to mention, once it loses the multiple benefits afforded to LDCs, it must adapt to no longer depend on these benefits, and become more self-sufficient as a nation.
Given the commitment to the cause so far, however, the people of Bangladesh have a reason to be optimistic that Bangladesh is well and truly on its way to prosperity.