Overview

In the early 1990s, there was a widespread expectation that the globalization of production systems and of finance, and the liberalization of economic activity, would promote diminishing income disparities between countries within the global economy. For the least developed countries, the prospect that the removal of legal and political obstacles to trade and capital movements would lead to accelerated growth and income convergence with more advanced countries was particularly inviting. During the 1990s there has been an accelerating process of economic liberalization in many least developed countries (LDCs). However, overall progress in increasing real incomes, reducing poverty and moving towards various international targets for human and social development has been disappointingly slow, except for a few of them.

Sustainable Development Goals:

Affordable and Clean Energy

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions