Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: As Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC), the government is preparing to get the final proposal endorsed from upcoming General Assembly of the United Nations.
The UN Economic and Social Council (ECOSOC) has principally given a consent to present the proposal in the upcoming UNGA for endorsement. The UNGA is taking place on September later this year.
As reported by RSS, the national news agency, Chief of the Permanent Mission of Nepal to the United Nations in New York, Amrit Rai informed that a meeting of the UN’s ECOSOC held recently in New York also recommended Nepal being eligible to graduate to the country of mid-level income from the present status of low-income country and is presenting the proposal for endorsement in the upcoming UNGA.
“Out of three stipulated criteria for graduation we had fulfilled two in 2015 and 2018 which paved our way for graduation,” RSS reported Rai. “Earlier, we had asked to put on hold the proposal for graduation due to the devastating earthquake. Now it is entering into the phase of endorsement,” said Rai
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