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The Least Developed Countries Report 2014

Growth with Structural Transformation - Post-2015 Development Agenda for LDCs

image of The Least Developed Countries Report 2014

As we reach the target date to meet the Millennium Development Goals (MDGs), the LDC Report analyses the performance of the LDCs in progressing towards these goals and provides a framework for their development policies in the post-2015 period. The Report shows that there is a high degree of differentiation among LDCs’ performance towards the MDGs, but most of these countries will not be able to attain most MDGs. This disappointing outcome is surprising given that LDCs have experienced historically high economic growth rates over the last 20 years, and domestic and international policies for LDCs have set MDGs as top priority. In the coming post-2015 period, the LDCs will face the challenge of achieving the sustainable development goals (SDGs), for which structural transformation will be a precondition.

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A post-2015 agenda for LDCs: Policies for structural transformation

Despite relatively rapid economic growth since around 2000, reflecting strong increases in commodity prices and in official development assistance (ODA), the majority of the least developed countries (LDCs) are off track on most of the Millennium Development Goals (MDGs). This reflects, in part, their failure to achieve the kind of structural transformation that has characterized successful adjustment experiences in other developing countries (ODCs), such as those considered in chapter 5 of this Report. The planned sustainable development goals (SDGs) accompanying the post-2015 development agenda will constitute an even more ambitious undertaking in a more challenging economic environment. This lends still greater urgency to the need for structural transformation in the LDCs.

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