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Angola soon to leave Least Developed Countries (LDC) List

September 22, 2012 (TSR) – The United Nations Conference on Trade and Development (UNCTAD) has announced that Angola became a candidate for the graduation process of the Group of Least Developed Countries to be approved in 2015 and integrating Middle Income countries.

Angola was recommended by UNCTAD to work to get out of the list of Least Developed Countries (LDCs), taking into account advances it registers in macro-economic and social achievements.

Luanda, Angola at night

According to the norms, for this to happen, the LDCs must meet two of three criteria for eligibility in the upper limits established for inclusion, or even having a high level of Gross National Product (GNP) per capita twice that the value stipulated for inclusion, it is sufficient for exclusion from the list, even though the country has not reached the required values in any of the other two criteria.

These data were advanced in Geneva, Switzerland, during the special session of the 59th Council of UNCTAD, on graduation of least developed countries.

Last March, at a meeting of the Committee for Development Policy, was first considered that Angola fulfills the eligibility criteria to be excluded from the list of Least Developed Countries, fulfilling the first step in a long process that starts in 2015 and may be extended for a further three years of transition to their integration into the group of Middle Income Countries.
The step taken Friday consists of Angola as a candidate country to the graduation process of the Group of Least Developed Countries, the list of countries to be approved in 2015.

Source: Angop

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