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The Least Developed Countries Report 1998

image of The Least Developed Countries Report 1998

The main focus of the 1998 Least Developed Countries Report, is an analysis of how different aspects of the multilateral trading system affect opportunities and constraints, for least developed countries (LDCs) to enhance their participation in the world economy. The Report examines the evolving interface between trade issues and the development objectives of LDCs. It analyses, in particular, several aspects of the multilateral trading system which traditionally have not been the main focus of concern to LDCs, but which are rapidly becoming important as these countries attempt to diversify their economies and enhance their involvement in the global economy. The Report also focuses on two other issues: implementation of the World Trade Organization (WTO) agreements by LDCs and how implementation by the developed countries is likely to affect LDCs; and how the process of accession could be expedited for the LDCs which are not members of WTO, while ensuring that they enjoy the same rights and concessions as current LDC members.

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Mobilizing private finance for investment in LDCs

In the course of the 1980s and 1990s, many LDCs have pursued economic reform programmes aimed at the restoration of fiscal balance and the establishment of an enabling environment for investment. In a number of these countries, reform packages, coupled with favourable commodity prices and good weather, have in recent years contributed to increased growth rates and enhanced foreign investment. Some countries, such as Angola and Mozambique, have recorded significant increases in inflows of FDI since the beginning of the decade, while others, such as Cambodia, the Lao People’s Democratic Republic, Uganda and the United Republic of Tanzania, have seen a turnaround since 1993–1994.

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