Two years into the implementation of the Istanbul Programme of Action (IPoA), least developed countries (LDCs) have made some progress on many of the goals and targets agreed in Istanbul. Although the majority of LDCs grew at a pace slower than their last- decade averages, a few continued to expand at 7 per cent or more – the target set in the Programme of Action. These countries witnessed strong and rising investment rates, rapid urbanization, and robust expansion of sectors other than agriculture. This development indicates that structural change also seems to be taking hold in a few LDCs.