Myanmar has met all three eligibility criteria for the first time to graduate from the Least Developed Country (LDC) status according to the assessment mentioned in the recent Report of Committee for Development Policy (CDP) of the United Nations.
It was stated in the report of the meeting of the United Nations Economic and Social Council, Committee for Development Policy held in March 2018 which was issued at the UN Headquarter in New York on 19 April 2018. The news has just been released on 18 May.
According to the 2018 Triennial Review, a country has to meet three eligibility criteria for LDC graduation, namely (i) Gross National Income (GNI) per capita of US$ 1230 or above (ii) Human Asset Index (HAI) of 66 or above and Economic Vulnerable Index (EVI) of 32 or below.
At the 2018 Triennial Review, Myanmar's Gross National Income (GNI) per capita stands at US$ 1255 while it holds 68.5 points in Human Asset Index (HAI) and 31.7 points in Economic Vulnerable Index (EVI). Therefore, CDP recommended in its report that Myanmar has passed all three graduation criteria. This is the very first time Myanmar meets all LDC graduation criteria since it was listed in LDC in 1987.
If Myanmar continues to meet at least two out of the three criteria again in the 2021 Triennial Review by sustaining its current development momentum, it will pave the way for Myanmar to graduate from the LDC status in the following years.