Senegal is preparing to take a decisive step in its economic journey by announcing its withdrawal from the category of Least Developed Countries (LDC). This decision, validated by the United Nations General Assembly, follows the recommendations of the Committee for Development Policy and the Economic and Social Council, which recognized the country’s sustained efforts in its quest for development.
This change in status, described as a “momentous event” by the UN, testifies to the significant progress made by Senegal in recent years. The rapidly changing Senegalese economy has been stimulated by ambitious structural reforms, increasing investments in various sectors, and more efficient management of its resources. This process, which allowed the country to redefine its growth model, is not the result of chance but the result of an asserted political will.
A planned transition for the future
The adopted resolution provides for a transitional period of five years during which Senegal must finalize its graduation process. This transitional phase, crucial to ensuring continuity in ongoing development programs, will be overseen by the development of a national strategy in collaboration with the United Nations and various development partners. In addition to solidifying achievements, this approach will make it possible to manage persistent risks, particularly in the face of the challenges posed by climate change, food and energy security, as well as market stability.
Senegal now joins the restricted circle of African countries having successfully moved out of the LDC category. Nations like Botswana (1994), Cape Verde (2007) and Equatorial Guinea (2017) have led the way, proving that this transition, although complex, can generate new economic and diplomatic opportunities, provided they benefit adequate support on the international scene.
A global issue
If Senegal’s withdrawal is a major step forward, we must not obscure the challenges that continue to weigh on developing countries. The United Nations General Assembly recalls that, despite this progress, the lasting consequences of the COVID-19 pandemic, regional conflicts and the exacerbated effects of climate change remain constant concerns that can threaten the gains made.
The case of Cambodia, also on the way to a similar status, illustrates this global dynamic where several countries formerly classified as LDCs are making notable progress in their socio-economic development.
Every three years, the list of LDCs is subject to review by the Committee for Development Policy (CPD). This group of independent experts plays a fundamental role in recommending adjustments to the United Nations Economic and Social Council, in order to ensure that the graduation process is justified and supported.
NDARINFO.COM
