Kathmandu, July 31 -- After being ranked among the Least Developed Countries (LDCs) for 55 years, Nepal is set to graduate to a developing country status in November next year, Prime Minister KP Sharma Oli informed the National Assembly on Wednesday.

"It is known to all that Nepal has long been striving to graduate from the status of an LDC to a developing country," said Oli. On November 18, 1971, the United Nations General Assembly had passed Resolution No 2768, listing Nepal as an LDC.

"Now, 55 years later, we have the opportunity for graduation. Nepal, which has led the LDC group of 45 countries, will graduate along with seven other countries next year. This is a matter of pride. Our international image will improve-and it signals th...