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
WAEMU states collectively raised nearly 7,000 billion CFA francs in the first half of 2025, a record amount driven by increased financing needs, the...
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0.6% in May, bolstered by a decline in food costs. •...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its main policy rate to 3.25% following a sharp drop in...
• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 million to $1 billion in annual market...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
03

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
04

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
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

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

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.