KATHMANDU, May 23 (Xinhua) -- The Nepal government has requested the United Nations to postpone the country's graduation from the Least Developed Countries (LDC) category by three years, according to a senior official.
In a press conference on Friday, Lok Bahadur Poudel Chhetri, spokesperson for the Ministry of Foreign Affairs, said Foreign Minister Shisir Khanal has already dispatched a letter to the chair of the Committee for Development Policy under the United Nations Economic and Social Council, seeking to defer Nepal's graduation until November 2029. Nepal was originally scheduled to graduate on Nov. 24, 2026.
"Low economic growth and Nepal's risk of losing the duty-free and quota-free market access it currently enjoys are among the reasons behind the request for deferral," Chhetri said.
He said Nepal's post-COVID-19 economic recovery has yet to fully stabilize, while geopolitical tensions and the impacts of climate change have created additional challenges for the economy. The ongoing conflict in the Middle East, which has contributed to rising fuel and food prices, has also affected the country's economy, he said. ■