The Least Developed Countries: Opportunities and Challenges

Abstract

Among the 193 member nations of the United Nations, there are 47 countries that are still classified as Least Developed Countries (LDCs) by the United Nations. The inability of so many developing countries to exit from LDC status after many decades highlights the tremendous challenges facing a large number of low income developing nations. While many Asia-Pacific LDCs are projected to graduate from LDC status over the next five years, the 32 African LDCs face a more challenging economic outlook, with only two expected to exit from LDC status in the medium term. Those nations that do graduate from LDC status will need to develop their transitional roadmaps for strengthening private capital inflows as access to concessional financing from international financial institutions and bilateral donor countries is reduced.