The Least Developed Countries (LDCs) are a group of countries that have been classified by the United Nations as least developed in terms of their low GDP per capita, their weak human assets and their high degree of economic vulnerability. This Report argues that the impact of the global economic crisis is likely to be so severe in LDCs that 'business as usual' is no longer possible. The crisis offers the necessity and opportunity for change. The Report sketches out a concrete, alternative economic strategy and a fresh agenda for LDC policymakers, which includes institutional capacity-building and the strengthening of the market-complementing developmental State.