Cabinet to request not to graduate Nepal to developing country

Nepal is sending a proposal to UN requesting not to graduate it to developing country status from least developed country. It has decided to put the upgradation plan on hold till 2021. The earlier government had also asked United Nations Committee for Development Policy not to consider Nepal in developing countries in 2018 though Nepal was found eligible in 2015 for upgradation. The request is being sent again. Nepal has been eligible to graduate as of the three criteria set by the UN to graduate to developing nation category, Nepal has fulfilled two—Economic Vulnerability Index (EVI) and Human Assets Index (HAI). Nepal has decided to stall the graduation stating it doesn’t meet eligibility in per capita income and economy is also fragile as it would affect in foreign aid and trade preferences in the international market.