Making progress is good for national pride, but it also means losing trade privileges and cheap finance at some point in time. Read more at straitstimes.com.
DOHA - There will be jubilation in the Himalayan kingdom of Bhutan this year when it quits the club of the world’s poorest countries, while others still have a mountain to climb.
The leaders of all 45 other LDCs are anxious to follow. Bangladesh, Nepal, Angola, Laos, the Solomon Islands and Sao Tome are scheduled to graduate by the end of 2026. National pride is also at stake for Bangladesh, dubbed a “basket case” by US Secretary of State Henry Kissinger after its creation in 1971.
Bangladesh Employers Federation president Ardashir Kabir said the country remains determined. “We are not afraid at all, we will generate our own resources, we will move forward.” To gain promotion to Middle Income Country status, candidates have to pass two out of three tests – get gross national income above US$1,222 a year or reach set scores for human welfare or economic vulnerability. UN committees then scrutinise cases for years.But President Ibrahim Mohamed Solih told the summit it has been a “bittersweet story”. Successive crises have hit the atolls that draw tourists from around the world.
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