Defer LDC graduation by up to eight years: businesses

A group of local businesspeople today urged the government to defer the country's graduation from the group of least developed country (LDC) category by six to eight years to allow more time for preparation.

They argued that high bank interest rates, higher Trump-era tariffs, a volatile economic situation, political turmoil, and a gloomy investment climate are major impediments to Bangladesh's scheduled LDC graduation in November next year.

They suggested engaging in intensive negotiations with the United Nations and the two other graduating countries, Nepal and Laos, to secure the deferment.

The businessmen and two economists spoke at an online discussion titled "LDC Graduation: How to Energise the Private Sector Objective", organised by The Daily Star.