Tag Archives: LDC graduation

As Bangladesh, a country of more than 160 million people and an economy worth US$686.5 billion, enters a stipulated six-year graduation period to become a “developing country” by 2024, policymakers expect a few rough patches ahead.

The government of Bangladesh has recently formed a new wage board for the readymade garment (RMG) industry where 4.4 million workers are currently employed.

After it graduated from Least Developed Country status in July 2016, Cambodia’s economy has remained healthy with a GDP growth rate of 6.9 per cent in 2017. This was driven by the recovering tourism sector, the ongoing construction boom and the gradual emergence of non-textile exports.

Bangladesh is likely to lose about $2.7 billion in export earnings every year once it graduates from the Least Developed Country bracket, where it has been for 43 years.