Public Management

Senegal Climbs Up UN’s Development Ladder, Leaving LDC Category

Senegal Climbs Up UN’s Development Ladder, Leaving LDC Category
Monday, 06 January 2025 11:57

Senegal has made great progress in economic and human development. It will be the fifth African country to leave the Least Developed Countries (LDC) category, after Botswana, Cabo Verde, Equatorial Guinea, and São Tomé and Príncipe.

In December 2024, the United Nations General Assembly adopted a resolution to remove Senegal from the LDC list after a five-year preparatory period, ending in December 2029.

“The UN General Assembly has adopted resolution A/79/L.49, Graduation of Cambodia and Senegal from the least developed country category. The two countries will graduate from the LDC category on 19 December 2029 after being granted, on an exceptional basis, an extended preparatory period of five years (the standard period is of three years) to enable them to effectively prepare for graduation and ensure a smooth transition out of the category,” the UN Department of Economic and Social Affairs stated.

The UN urged Senegal and Cambodia to create national strategies to manage this transition, with support from UN agencies and partnerships with regional, bilateral, and multilateral stakeholders. It also described the removal from the LDC category as a landmark achievement, reflecting significant progress toward development goals.

As a member of the Economic Community of West African States (ECOWAS), Senegal has made remarkable advancements in economic growth and human development over recent decades. Between 2014 and 2019, the economy grew at an average rate of 6% annually. However, the COVID-19 pandemic, the war in Ukraine, and domestic political tensions slowed growth, which fell to 4.1% in 2023 and 5% in 2024.

Despite these challenges, Senegal’s economic outlook is promising, driven by the start of hydrocarbon exploitation. The International Monetary Fund (IMF) forecasts a growth rate of 10% in 2025.

Senegal’s Human Development Index has also improved significantly, increasing from 0.371 in 1990 to 0.517 in 2022 on a scale from 0 to 1.

The LDC category, created by the UN General Assembly in 1971, is designed to provide special international support to the world’s most vulnerable nations. This status allows access to preferential markets, development aid, technical assistance, and technology capacity-building programs.

Countries are added to or removed from the LDC list following reviews by the UN Committee for Development Policy. The committee evaluates socioeconomic factors such as gross national income per capita, which must exceed $1,306 for removal, human development indicators like child and maternal mortality rates and literacy, and vulnerability to economic and environmental challenges, such as reliance on agriculture and susceptibility to natural disasters.

Since its establishment, eight countries have graduated from the LDC category: Botswana in 1994, Cabo Verde in 2007, the Maldives in 2011, Samoa in 2014, Equatorial Guinea in 2017, Vanuatu in 2020, Bhutan in 2023, and São Tomé and Príncipe in 2024.

Currently, there are 44 countries in the LDC category, with 32 in Africa, 8 in Asia, 3 in the Pacific, and 1 in the Caribbean. Some countries, such as Zimbabwe, Bolivia, and North Korea, have chosen not to be included in the LDC list.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Gabon signed a $3 billion deal with Afreximbank to finance priority investments. The move follows a meeting between President Oligui Nguema...
• BCEAO holds key rates, citing stable growth and low inflation• WAEMU GDP grows 6.5%; inflation drops to 0.6% in Q2• Risks persist from insecurity,...
• WEF identifies 37 financial instruments for nature, highlighting 10 as priority solutions delivering both financial returns and ecological outcomes.•...
EBRD, EU, GCF, and Canada plan €65 mln ($77 mln) green loan for Crédit du Maroc. Funds to support clean energy, water treatment, and sustainable...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
03

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
04

Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...

Malawi’s Election Puts Incumbent Chakwera to the Test on Inflation and Fuel Shortages
05

Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...

Saudi Arabia’s 2025 Shopping List Now Includes Industrial Parks in Africa — With a $700 Million Entry Ticket
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.