London, 26 July (LDC News) — “We are in the midst of an unprecedented crisis. The severity of its impact is felt globally, the LDCs are bearing its heaviest brunt”. This is how Rabab Fatima, Permanent Representative of Bangladesh, and Co-chair of LDCV Preparatory Committee (PrepCom) described the challenges facing LDCs.
The upcoming UN Conference on Least Developed Countries (LDCV) next January is a crucial moment to take stock of progress and challenges for LDCs. So how does the balance sheet look? Not good. Sadly, most of the progress made since LDCIV in 2011 has been eradicated by Covid-19, with UNCTAD estimating it will take more than five years for the poorest LDCs like Benin, Sudan and Timor-Leste to recover. Continue reading
- Professor Surya P. Subedi
The pandemic of Covid-19 has brought many challenges for states of all size and shape, whether economically or politically. The hardest hit is likely to be the least-developed countries like Nepal which already suffer from other handicaps. They lack a long-term strategy to use economic diplomacy successfully to develop the economy of the country. Economic diplomacy is about knowing how to exploit the unique selling points that the country has, maximise the benefits resulting from them and putting in place policies designed to achieve such objectives. The following are some of them:
- Benefiting from competition among foreign actors
We are often led to believe that Nepal is a resource poor country, but in reality, it is a country rich in water resources and other resources such medicinal Himalayan herbs and has a huge potential for the development of the tourism and other services sectors. Since the country is endowed with such resources and there is so much potential for the services sector, Nepal is well placed to attract foreign investment to harness its natural resources and develop its services sector since the country has achieved some degree of political stability. Continue reading
Achieving developing economy status would mean reduction in the informal economy as a share of GDP. Photo: Star
Habibullah N Karim, The Daily Star— It is indeed a seminal event in the history of Bangladesh that the UN last year declared Bangladesh eligible to step up to a developing economy from being a Least Developed Country (LDC). Of course the process is gradual and due to take effect in 2024 with a grace period of three years to wean off the special dispensations of the LDC status. Continue reading
Lines of people waited to collect drinking water during the drought in Cape Town, South Africa, January 2018.
By : Marianne Kjellén, Senior Water Advisor, UNDP
UNDP— Fears of cities running out of water have become very real in several parts of the world, most recently in South Asia in places such as Karachi, Islamabad, Chennai, and Delhi. These crises reveal severe underlying problems with water resource management and distribution. Continue reading