Kathmandu, May 22 -- Nepal has formally initiated the process to defer its planned graduation from the category of Least Developed Countries (LDCs), pushing the timeline from November 24, 2026, to November 2029, the Ministry of Foreign Affairs said on Friday.

Speaking at a regular press briefing, ministry spokesperson Lok Bahadur Poudel Chhetri said the government had written to the chair of the United Nations Committee for Development Policy (CDP) on May 13 seeking postponement of the graduation process.

According to Chhetri, the decision was taken in view of changing national and international economic and political circumstances, including geopolitical tensions, disruptions in global supply chains and their impact on remittance inflo...