BROS EQUITY ALERT: ROSEN, A HIGHLY RECOGNIZED LAW FIRM, Encourages Dutch Bros, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – BROS

NEW YORK, March 03, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Dutch Bros, Inc. (NYSE: BROS) between March 1, 2022 and May 11, 2022, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2023.

SO WHAT: If you purchased Dutch Bros securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Dutch Bros class action, go to https://rosenlegal.com/submit-form/?case_id=12586 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company was experiencing increased costs and expenses, including on dairy; (2) as a result, the Company was experiencing increased margin pressure and decreased profitability in the first quarter of 2022; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Dutch Bros class action, go to https://rosenlegal.com/submit-form/?case_id=12586 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8781413

CGNT EQUITY ALERT: ROSEN, A TOP RANKED GLOBAL COUNSEL, Encourages Cognyte Software Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action – CGNT

NEW YORK, March 03, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Cognyte Software Ltd. (NASDAQ: CGNT) between February 2, 2021 and June 28, 2022, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2023.

SO WHAT: If you purchased Cognyte securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Cognyte class action, go to https://rosenlegal.com/submit-form/?case_id=12578 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class misled investors and/or failed to disclose that Cognyte created, distributed, and provided reconnaissance tools and services that violated community standards and terms of service of communication network sources and technologies, such as Facebook, exposing the Company to significant financial and reputational risk. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Cognyte class action, go to https://rosenlegal.com/submit-form/?case_id=12578 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8781403

ROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages VBit Technologies Corp., VBit Mining LLC Investors to Secure Counsel Before Important Deadline in Securities Class Action

NEW YORK, March 03, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of VBit Technologies Corp., VBit Mining LLC (Collectively, “VBit”) securities, which were unregistered in the form of investment contracts, between January 1, 2019 and February 13, 2023, inclusive (the “Class Period”), of the important April 17, 2023 lead plaintiff deadline.

SO WHAT: If you purchased VBit securities, which were in the form of investment contracts, during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the VBit class action, go to https://rosenlegal.com/submit-form/?case_id=12202 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 17, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants violated provisions of the Exchange Act by making false and misleading statements and omitting material information concerning VBit’s mining operations. The lawsuit also alleges that defendants violated the Securities Act by offering, selling and soliciting unregistered securities.

To join the VBit class action, go to https://rosenlegal.com/submit-form/?case_id=12202 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8781452

ROSEN, GLOBALLY RECOGNIZED INVESTOR COUNSEL, Encourages Tesla, Inc. Investors With Losses to Secure Counsel Before Important Deadline in Securities Class Action – TSLA

NEW YORK, March 03, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Tesla, Inc. (NASDAQ: TSLA) between February 19, 2019 and February 17, 2023, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 28, 2023.

SO WHAT: If you purchased Tesla securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Tesla class action, go to https://rosenlegal.com/submit-form/?case_id=12483 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 28, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) defendants had overstated the efficacy, viability, and safety of the Company’s Autopilot and Full Self-Driving “FSD” technologies; (2) Tesla’s Autopilot and FSD technologies created a serious risk of accident and injury; (3) as a result of the foregoing, Tesla was subjected to an increased risk of regulatory and governmental scrutiny and enforcement action, as well as reputational harm; (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Tesla class action, go to https://rosenlegal.com/submit-form/?case_id=12483 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8781446

ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages Honda Motor Co., Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action – HMC

NEW YORK, March 03, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of American Depository Shares (“ADSs”) of Honda Motor Co., Ltd. (NYSE: HMC) between June 20, 2018 and September 28, 2022, both dates inclusive (the “Class Period”) of the important April 3, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Honda ADSs during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Honda class action, go to https://rosenlegal.com/submit-form/?case_id=11692 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 3, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Honda had overstated the safety and effectiveness of the Idle Stop engine feature; (2) Honda maintained deficient disclosure controls and procedures with respect to product quality and safety; (3) as a result of the foregoing deficiencies, Honda failed to prevent American Honda from marketing and selling thousands of vehicles that contained a defective Idle Stop feature; (4) the foregoing conduct subjected the Company and/or its subsidiaries to a heightened risk of litigation, as well as financial and/or reputational harm; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Honda class action, go to https://rosenlegal.com/submit-form/?case_id=11692 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8781417

FAO Food Price Index declines for the 11th consecutive month

Rome – The benchmark index of international food commodity prices declined in February for the eleventh consecutive month, albeit only marginally, the Food and Agriculture Organization of the United Nations (FAO) reported today.

The FAO Food Price Index averaged 129.8 points in February, a marginal 0.6-percent decrease from January but 18.7 percent down from its peak in March 2022. The decline in the index, which tracks monthly changes in the international prices of commonly-traded food commodities, reflected drops in quotations for vegetable oils and dairy products that more than offset a steep rise in sugar prices.

The FAO Cereal Price Index remained virtually unchanged from January. International wheat prices rose marginally during the month, as concerns over dry conditions in the United States of America and robust demand for supplies from Australia were largely countered by a strong competition among exporters. International rice prices eased by 1.0 percent due to a slowdown in trading activities in most major Asian exporters, whose currencies also depreciated against the United States dollar.

The FAO Vegetable Oil Price Index declined 3.2 percent from January, with the world prices of palm, soy, sunflowerseed and rapeseed oils all lower.

The FAO Dairy Price Index declined 2.7 percent during the month, with butter and skim milk powder international quotations registering the steepest decline.

The FAO Meat Price Index also remained almost unchanged from January. World poultry prices continued to decline amid abundant export supplies, notwithstanding the avian influence outbreaks in several leading producer countries, while international pig meat prices rose, mostly due to concerns over tighter export availabilities in Europe.

In contrast, the FAO Sugar Price Index rose 6.9 percent from January to its highest level in six years, due largely to a downward revision to the 2022/23 production forecast in India, although favorable crop prospects in other suppliers, combined with lower international crude oil prices and ethanol prices in Brazil, limited upward pressure on sugar prices.

Early production outlook for 2023 wheat crops

In its latest Cereal Supply and Demand Brief, also released Friday, FAO released its preliminary forecast for world wheat production in 2023, predicting a global outturn of 784 million tonnes, which would be the second highest on record though down from the previous year. Strong outputs are expected in North America, as farmers increase acreage in response to high grain prices.

In southern hemisphere countries, the production outlook for coarse grain crops in 2023 is generally favourable, and total maize plantings in Brazil are foreseen to reach a record level.

FAO has also revised upwards its projection for world cereal production in 2022 to 2 774 million tonnes, still 1.3 percent lower than in 2021.

Global cereal utilization in 2022/23 is forecast at 2 780 million tonnes, representing a 0.6-percent decline from the previous season, largely due to an anticipated contraction in the utilization of all major coarse grains.

FAO forecasts global cereal stocks ending in 2023 to decline by 1.2 percent from their opening levels, down to 844 million tonnes, as drawdowns in coarse grain and to a lesser extent rice stocks are foreseen to outweigh an expected build-up in wheat inventories. Based on the new forecasts, the world cereal stocks-to-use ratio would stand at 29.5 percent, deemed an “overall comfortable level”.

World trade in cereals is predicted to contract by 1.8 percent to 473 million tonnes.

Crop prospects and the food situation

Droughts, conflict and high prices, along with macroeconomic predicaments, are exacerbating food insecurity in many countries. A total of 45 countries around the world are assessed to need external assistance for food, according to the latest Crop Prospects and Food Situation report, a quarterly publication by FAO’s Global Information and Early Warning System (GIEWS), also published today.

Some people in six countries are experiencing, or expected to experience soon, severe levels of acute food insecurity, defined as level 5 of the Integrated Food Security Phase Classification (IPC 5) or catastrophic hunger: Burkina Faso, Haiti, Mali, Nigeria, Somalia and South Sudan. Millions more face severe hunger, according to the report.

Even as the FAO Food Price Index have eased somewhat in recent months, domestic food price inflation is at prohibitively high levels in many countries. For instance, coarse grain prices in Ghana in January were 150 percent higher than a year earlier, and grain prices were at all-time highs in Malawi and Zambia. An aggregate increase in cereal production among the world’s 47 Low-Income Food Deficit Countries (LIFDCs) in the current agricultural season have helped assuage the impacts of higher global commodity prices, but production downturns and currency weakness in many others will keep the food import bills of LIFDCs at high levels, the report said.

The Crop Prospects and Food Situation report offers more findings from around the world and flags the alarming situation in East Africa, home to the worst drought in the last 40 years.

Source: Food and Agriculture Organization of the United Nations

UNICEF West and Central Africa Regional Office: Humanitarian Situation Report, 1 January to 31 December 2022

Throughout 2022, children continued to face multidimensional humanitarian crises across West and Central Africa region. UNICEF’s Regional Humanitarian Appeal for Children focuses on 10 countries without a dedicated inter-agency Humanitarian Response Plan, but with unmet humanitarian needs.

In Benin, Cote d’Ivoire, Ghana and Togo, UNICEF supported populations facing rising emergency needs and a deteriorating security situation due to the impacts of spill-over from conflicts in the Central Sahel. On the border between The Gambia and Senegal, clashes between Senegalese security forces and separatist groups in March and April 2022 resulted in population displacement and humanitarian needs. Across the region, public health threats and disease outbreak remain widespread, from COVID-19 to Marburg Virus and Mpox, as well as persistent outbreaks of malaria, cholera, and other diseases. UNICEF Country Offices also supported populations facing natural hazards including seasonal floods

Source: UN Children’s Fund

5 things you need to know about the world’s least developed countries

Three years after the world began to shut down as COVID-19 took hold, the UN and other partners will gather in Doha, Qatar, to deliver a historic new compact to support the countries whose vulnerabilities the pandemic most exposed.

The conference of Least Developed Countries or LDCs takes place every 10 years and this year’s meeting from 5 to 9 March 2023, known as LDC5, will focus on returning the needs of the 46 designated countries to the top of the global agenda and supporting them as they strive to get back on track to sustainable development.

1. What is a Least Developed Country?

The Least Developed Countries (LDCs) are countries listed by the United Nations that exhibit the lowest indicators of socioeconomic development across a range of indexes. All LDCs have a gross national per capita income (GNI) of below USD$1,018; compare that to almost $71,000 in the United States, $44,000 in France, $9,900 in Turkey and $6,530 in South Africa according to data from World Bank.

These countries also have low scores on the indicators for nutrition, health, school enrolment and literacy and high scores for economic and environmental vulnerability, which measures factors such as remoteness, dependence on agriculture and exposure to natural disasters.

There are currently 46 LDCs, the vast majority of which are in Africa [see box below]. The list is reviewed every three years by the UN Economic and Social Council. Six countries have graduated from LDC status between 1994 and 2020.

2. What are the challenges facing the least developed countries?

Today, the 46 LDCs are home to some 1.1 billion people, that’s 14 per cent of the world’s population, and more than 75 per cent of those people still live in poverty.

More than other countries, LDCs are at risk of deepening poverty and remaining in a situation of underdevelopment. They are also vulnerable to external economic shocks, natural and man-made disasters, communicable diseases and crucially climate change.

Currently, the planet is on course to warm by about 2.7°C this century, which would devastate LDCs. These countries have contributed the least to carbon emissions, and yet face some of the highest risks from climate change.

Meanwhile, LDCs are among those most affected by COVID-19; all but eight experienced negative growth rates in 2020 and the pandemic fall-out is predicted to last longer than in richer countries.

Debt is a major problem for all LDCs: four are classified as in debt distress (Mozambique, Sao Tome and Principe, Somalia and Sudan) and 16 LDCs are at high risk of debt distress.

As such, LDCs require the highest level of attention from the international community.

3. How can the United Nations and the international community help LDCs?

The UN system’s efforts to reverse the increasing marginalisation of LDCs in the global economy and to put them on a path to sustainable growth and development date back to the 1960s.

Since then, the UN has paid special attention to LDCs, recognising them as the most vulnerable in the international community and granting them certain benefits including:

Development financing: notably grants and loans from donors and financial institutions.

Multilateral trading system: such as preferential market access and special treatments.

Technical assistance: notably, towards supporting trade.

The first LDC conference was held in Paris, France in 1981 and LDC5, marking the 50th anniversary was due to be held in March 2022, but was postponed to this year due to COVID.

4. What is the Doha Programme of Action?

The Doha Programme of Action (or DPoA, for acronym lovers!) is the development road map for LDCs agreed in March 2022.

It includes six key focus areas:

Eradicating poverty and building capacity.

Leveraging the power of science, technology, and innovation to fight vulnerabilities and to achieve the SDGs.

Supporting structural transformation as a driver of prosperity.

Enhancing international trade of LDCs and regional integration.

Addressing climate change, environmental degradation, recovering from COVID-19 pandemic and building resilience against future shocks.

Mobilizing international solidarity and reinvigorating global partnerships.

The full implementation of the DPoA will help LDCs to address the COVID-19 pandemic and the resulting negative socio-economic impacts and enable them to get back on track to achieve the SDGs including addressing climate change.

The full text of the Doha Programme of Action is available here in the 6 UN official languages.

5. What can we expect from LDC5?

The UN, LDCs, Heads of State and Government, development partners, the private sector, civil society, parliamentarians, and youth will come together to agree partnerships, commitments, innovations and plans in an effort to reach the SDGs.

The UN Secretary-General is due to address the conference and has already highlighted the importance of supporting LDCs.

“The Doha Programme of Action reminds us that global recovery depends on LDCs getting the support they need. They need bold investments in health, education and social protection systems — all the resources required to fully implement Agenda 2030 and the Sustainable Development Goals.”

As LDCs take the first step towards those goals, they will meet certain targets which will enable them to graduate from the least developed country status.

Six countries have gone through this process: Botswana (in 1994), Cape Verde (2007), Maldives (2011), Samoa (2014), Equatorial Guinea (2017), and Vanuatu (2020).

List of Least Developed Countries:

The following 46 countries were listed as LDCs by the UN as of March 2023:

Africa (33): Angola, Benin, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Democratic Republic of the Congo, Djibouti, Eritrea, Ethiopia, Gambia, Guinea, Guinea-Bissau, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mozambique, Niger, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Tanzania, Togo, Uganda, and Zambia

Asia (9): Afghanistan, Bangladesh, Bhutan, Cambodia, Lao People’s Democratic Republic, Myanmar, Nepal, Timor-Leste and Yemen

Caribbean (1): Haiti

Pacific (3): Kiribati, Solomon Islands and Tuval

Source: UN News Service