KATHMANDU: The Ministry of Finance has initiated groundwork to implement strategies for Nepal’s transition from a Least Developed Country (LDC) to a Developing Country (DC), set to take place in November 2026.
During a meeting held at the Ministry of Finance, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel highlighted the importance of thorough preparation for the transition.
He directed ministry officials to actively participate in planning and executing necessary tasks to ensure a smooth upgrade.
National Planning Commission Vice-Chair Prof. Dr. Shivaraj Adhikari stressed the need for coordination among all stakeholders and recommended updating transitional policies to align with contemporary demands.
The meeting also highlighted the importance of formulating policies, plans, and programs that will be sustainable while drafting the budget for the fiscal year 2025/26.
The Ministry of Finance is responsible for creating fiscal policies aimed at sustainable economic growth, employment generation, and maintaining stable monetary policies. Additionally, it oversees the availability of funds, mobilization of development assistance, business analysis, and increasing financial access for high-return projects.
Nepal’s transition to a developing country is based on criteria such as gross national income per capita, human capital index, and economic and environmental risk index.
The transition is expected to open doors to increased development and commercial investment, foster new economic and trade partnerships, and enhance Nepal’s national image and credibility.
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