B Mirror Report:The government has formally requested the UN Committee for Development Policy (CDP) to defer Bangladesh’s graduation from Least Developed Country (LDC) status for three years.

According to officials of the Economic Relations Division (ERD), a letter signed by ERD Secretary Md Shahriar Kader Siddiky was sent to the CDP on February 18.

ERD officials said the CDP is scheduled to meet from February 24 to 28, where Bangladesh’s request and related matters will be reviewed.

In the letter seeking postponement of LDC graduation, the government stated that the preparatory period granted to Bangladesh was intended to address post-Covid challenges over five years. However, during this time, multiple global shocks significantly affected the economy. The Russia–Ukraine war drove up fuel and food prices, global monetary tightening was adopted, and the impact of a global slowdown was felt worldwide. Disruptions in shipping and uncertainties in international trade further complicated the situation.

Officials also noted that various domestic changes, a decline in investment, slower revenue growth, and reduced GDP growth hindered the expected progress in implementing structural reforms. As a result, although efforts were made to utilize the preparatory period effectively, the necessary policy and institutional adjustments required for LDC graduation could not be fully implemented.

The letter further mentioned that the current global trade environment is marked by heightened uncertainty, including questions surrounding access to GSP Plus facilities. Policy shifts by major trading partners could also put pressure on Bangladesh’s competitiveness, requiring additional time to address.

In this context, Bangladesh has formally requested a three-year extension along with a “crisis assessment.”

Sources said a preliminary assessment report may be prepared within about two weeks after the February 24–28 meeting, following which the CDP will provide its observations and recommendations. A final decision is expected in September.

ERD officials added that the United Nations conducted an assessment last year at Bangladesh’s request. While it highlighted the country’s economic challenges, it did not make specific recommendations; rather, it described the graduation process as “challenging” for Bangladesh.

The final decision will be taken by the UN General Assembly. Officials said the entire recommendation and approval process could take until September or October.

They added that the process has now formally begun, and subsequent decisions will depend on the ongoing assessment.