Nepal has been upgraded from the list of least developed countries to meet the criteria of being listed as middle level developing country. The final resolution in this regard is being prepared to be passed in the next General Assembly of the United Nations. The UN Economics and Social Council has already agreed in principle to submit the proposal to the next General Assembly for approval. This time the UN General Assembly is sitting in September.
According to Amrit Rai, head of Nepal’s Permanent Mission to the United Nations in New York, a recent meeting of the United Nations Economic and Social Council in New York recommended that Nepal be upgraded from a low-income country to a middle-income country.
Nepal is on the list of eligible countries as it has met two of the three criteria set by the United Nations-Gross National Income, Per capita Income and Human Property Index.
At the request of the Government Nepal, in the critical situation caused by the corona virus, it took three years to develop an additional action plan for transitional management after approving the decision to upgrade Nepal, the next two years are set for 2026. The Policy for this was recommended by the UN committee called ‘Policy for Development’ last Falgun saying that Nepal is capable.
Nepal will strategize on the challenges it will face after upgrading. After studying for the next three years, the necessary budget has to be formulated. As a least developed country various grants and assistance programs provided by the international aid group will be cut and additional taxes will have to be borne by the export trade, which will weaken Nepal’s competitiveness in the international market. For this Nepal is ready to work by setting up a mechanism in the National Planning Commission.
Nepal has been listed as an underdeveloped country in the United Nations for the past 50 years. In 1971, Nepal was listed as a least developed country.
By Muna Chand
