Bangladesh 9th among emerging economies to deal with virus aftermath

[The Ronin]

Bangladesh is ahead of India, Pakistan and Sri Lanka

Bangladesh has been listed as the 9th strongest economy according to The Economist’s report on the financial strength of the 66 emerging economies in the wake of the Covid-19 fallout.

The ranking examines the vulnerability of selected economies across four potential sources of peril—public debt as percentage of GDP, foreign debt (both public and private), cost of borrowing and reserve cover.

According to the ranking, the economy of Bangladesh has featured as strong or relatively strong in all said indicators.

Botswana tops the list of countries with the strength of its indicators while Venezuela fared as most vulnerable.

Bangladesh, Botswana apart other emerging economies those made it to top 10 are, Taiwan, South Korea, Peru, Russia, the Philippines, Thailand, Saudi Arabia and China.

Bangladesh has fared better than three of its South Asian neighbours — India ranked 18th, Pakistan 43rd and Sri Lanka 61st.

The Economist report, ‘Which emerging markets are in most financial peril’, says its ranking of 66 countries shows which are in distress and which are relatively safe.

It says Covid-19 hurts emerging economies in at least three ways: by locking down their populations, damaging their export earnings and deterring foreign capital.

Even if the pandemic fades in the second half of the year, GDP in developing countries, measured at purchasing-power parity, will be 6.6% smaller in 2020 than the IMF had forecast in October, states the report.

“The damage to exports will be acute. Thanks to low oil prices, Gulf oil exporters will suffer a current-account deficit of over 3% of GDP this year, the IMF reckons, compared with a 5.6% surplus last year. When exports fall short of imports, countries typically bridge the gap by borrowing from abroad. But the reversal of capital inflows has been matched by higher borrowing costs.”

To weather the crisis, the report states, emerging economies may need at least $2.5trn, the fund reckons, from foreign sources or their own reserves. One way to ensure countries have more hard currency is to stop taking it from them.

The G20 group of governments has said it will refrain from collecting payments this year on its loans to the poorest 77 countries (though the borrowers will have to make up the difference later).

The Economist calculated the 66 emerging economies’ likely foreign payments this year (their current-account deficit plus their foreign-debt payments) and compared this with their stock of foreign exchange reserves. A country’s rank on each of these indicators is then averaged to determine its overall standing.

https://www.dhakatribune.com/bangla...-economies-to-deal-with-coronavirus-aftermath
http://www.unb.com.bd/category/Bang...-economies-to-deal-with-virus-aftermath/50970
https://www.economist.com/briefing/2020/05/02/which-emerging-markets-are-in-most-financial-peril

 

[UKBengali]

Thankfully BD is one of the most resilient developing economies.

Hope the pandemic does not last into next year as then even countries like BD will suffer permanent reversals in the progress they made over the last decades.

 

[Bilal9]

I think this demonstrates the adage, "O brikkho tor nam ki - foley porichoi."

The utility (and fame) of a tree is in its fruit. @Joe Shearer Dada your thoughts for the future.

 

[Michael Corleone]

Wow better than ukraine too. But that was expected

 

[Bilal9]

Wow better than ukraine too. But that was expected

Are Ukrainians more resourceful than Russians? More hard-working?

General how is their collective opinion of our country and the kind of people?

Is it as well-rounded as that from the liberal US?

 

[Michael Corleone]

Are Ukrainians more resourceful than Russians? More hard-working?

General how is their collective opinion of our country and the kind of people?

Is it as well-rounded as that from the liberal US?

I would say they’re the same, I don’t see why they had to seperate, none is doing better than the other tbh. Corrupt, irresponsible people. A couple years back none of them even knew what Bangladesh is, but now they’re like “ohh that country that makes good clothings” so I would say not bad. Handful of bangladeshis in ukraine.
ukraine wants to emulate America, so you would see people comparing with US than other countries. Freedom fever got them well. Otherwise city life is better than bd, interstate infrastructure same or worse than bd, climate better than bd, girls better looking than bd... and so on

 

[Bilal9]

I would say they’re the same, I don’t see why they had to seperate, none is doing better than the other tbh. Corrupt, irresponsible people. A couple years back none of them even knew what Bangladesh is, but now they’re like “ohh that country that makes good clothings” so I would say not bad. Handful of bangladeshis in ukraine.
ukraine wants to emulate America, so you would see people comparing with US than other countries. Freedom fever got them well. Otherwise city life is better than bd, interstate infrastructure same or worse than bd, climate better than bd, girls better looking than bd... and so on

Well while you're there good luck trying to establish business ties with Bangladesh with your knowledge and access. I'm sure we can benefit from each others' economies in some complementary fashion.

Ukrainian aviation industry was certainly better than the rest of the USSR (Antonov being just one company). Their machining and industrial capabilities are probably better than ours and we can get experts on the cheap probably.

 

[JohnWick]

Wow better than ukraine too. But that was expected

Also better than China as well as India....

 

[Joe Shearer]

I think this demonstrates the adage, "O brikkho tor nam ki - foley porichoi."

The utility (and fame) of a tree is in its fruit. @Joe Shearer Dada your thoughts for the future.

What is there to say? The numbers speak for themselves; "...folei porichoi!" I say this without the slightest feeling of chauvinism (what a liar I am): Bangladesh will be a tiger economy, not just in South Asia, but in Asia; as for encomia about world rankings, let others utter them.

 

[Michael Corleone]

Well while you're there good luck trying to establish business ties with Bangladesh with your knowledge and access. I'm sure we can benefit from each others' economies in some complementary fashion.

Ukrainian aviation industry was certainly better than the rest of the USSR (Antonov being just one company). Their machining and industrial capabilities are probably better than ours and we can get experts on the cheap probably.

Oh yes for sure. Their marine engines, Gas turbine generators Are really known for reliability (Soviet engineering) I live in the city where they used to make v2 derivative of USSR, then the first ICBM, satan 1 and even Soyuz but now none of those industries churn out any rockets. bangladesh can benefit from ukraine but corruption and bureaucracy may be an issue. Would need to know some insider people

 

[Bilal9]

What is there to say? The numbers speak for themselves; "...folei porichoi!" I say this without the slightest feeling of chauvinism (what a liar I am): Bangladesh will be a tiger economy, not just in South Asia, but in Asia; as for encomia about world rankings, let others utter them.

Dada ranking doesn't say anything. I just want our poor to have decent jobs they can subsist on. That is the goal.

Genuine concern for the poor is more of a Bengali/Bangladeshi thing - I've figured out.

Outside East or West Bengal, the rest of the region does not really care or do anything about it - other than charity 'show-boating' by the rich for self-gratification.

If this was not the case, then we wouldn't have the world's largest NGO in Bangladesh (BRAC) and the likes of Mohammad Yunus coming up with micro-financing.

 

[Nilgiri]

"Does not really care or do anything about it" indeed:

https://defence.pk/pdf/threads/indi...o-lead-world-bank.598776/page-4#post-11129373

For south asia the MPI scores (headcount * intensity) are (lower is better):

India = 0.121 (2015-2016)

Bangladesh = 0.194 (2014)

Pakistan = 0.228 (2012-2013)

By pure headcount only (during the respective survey years):

India = 27.5% = 364 million people

Bangladesh = 41.07% = 66 million people

Pakistan = 43.9% = 80 million people

A telling study when you dont have a "95% seat won" autocracy fudging stuff in between:

https://ophi.org.uk/multidimensional-poverty-index/global-mpi-2018/

Be sure to check 2019 out :

http://hdr.undp.org/en/2019-MPI

 

[Homo Sapiens]

interstate infrastructure same or worse than bd

I find it hard to believe. Their infrastructure were mostly built during the Soviet times and just maintaining them would be enough to make them far better than Bangladesh. I am particularly talking about transport infrastructure. Moreover, Ukraine's per capita GDP is almost twice of Bangladesh. From Youtube, it seems they have comparable road and rail infrastructure of other Eastern European countries. Can you elaborate why do you think, their infrastructure is no way better than Bangladesh? I like to hear from someone who knows first hand both BD and Ukraine well.

 

[mmr]

Bangladesh is ahead of India, Pakistan and Sri Lanka

Bangladesh has been listed as the 9th strongest economy according to The Economist’s report on the financial strength of the 66 emerging economies in the wake of the Covid-19 fallout.

The ranking examines the vulnerability of selected economies across four potential sources of peril—public debt as percentage of GDP, foreign debt (both public and private), cost of borrowing and reserve cover.

According to the ranking, the economy of Bangladesh has featured as strong or relatively strong in all said indicators.

Botswana tops the list of countries with the strength of its indicators while Venezuela fared as most vulnerable.

Bangladesh, Botswana apart other emerging economies those made it to top 10 are, Taiwan, South Korea, Peru, Russia, the Philippines, Thailand, Saudi Arabia and China.

Bangladesh has fared better than three of its South Asian neighbours — India ranked 18th, Pakistan 43rd and Sri Lanka 61st.

The Economist report, ‘Which emerging markets are in most financial peril’, says its ranking of 66 countries shows which are in distress and which are relatively safe.

It says Covid-19 hurts emerging economies in at least three ways: by locking down their populations, damaging their export earnings and deterring foreign capital.

Even if the pandemic fades in the second half of the year, GDP in developing countries, measured at purchasing-power parity, will be 6.6% smaller in 2020 than the IMF had forecast in October, states the report.

“The damage to exports will be acute. Thanks to low oil prices, Gulf oil exporters will suffer a current-account deficit of over 3% of GDP this year, the IMF reckons, compared with a 5.6% surplus last year. When exports fall short of imports, countries typically bridge the gap by borrowing from abroad. But the reversal of capital inflows has been matched by higher borrowing costs.”

To weather the crisis, the report states, emerging economies may need at least $2.5trn, the fund reckons, from foreign sources or their own reserves. One way to ensure countries have more hard currency is to stop taking it from them.

The G20 group of governments has said it will refrain from collecting payments this year on its loans to the poorest 77 countries (though the borrowers will have to make up the difference later).

The Economist calculated the 66 emerging economies’ likely foreign payments this year (their current-account deficit plus their foreign-debt payments) and compared this with their stock of foreign exchange reserves. A country’s rank on each of these indicators is then averaged to determine its overall standing.

https://www.dhakatribune.com/bangla...-economies-to-deal-with-coronavirus-aftermath
http://www.unb.com.bd/category/Bang...-economies-to-deal-with-virus-aftermath/50970
https://www.economist.com/briefing/2020/05/02/which-emerging-markets-are-in-most-financial-peril

Its too early to do any predictions to begin with. This is just the beginning. All countries will have second and third wave. And Bangladesh didnt even reach peak yet for the first wave.

We will have better predictions if we wait until next spring.

 

[Joe Shearer]

"Does not really care or do anything about it" indeed:

https://defence.pk/pdf/threads/indi...o-lead-world-bank.598776/page-4#post-11129373

For south asia the MPI scores (headcount * intensity) are (lower is better):

India = 0.121 (2015-2016)

Bangladesh = 0.194 (2014)

Pakistan = 0.228 (2012-2013)

By pure headcount only (during the respective survey years):

India = 27.5% = 364 million people

Bangladesh = 41.07% = 66 million people

Pakistan = 43.9% = 80 million people

A telling study when you dont have a "95% seat won" autocracy fudging stuff in between:

https://ophi.org.uk/multidimensional-poverty-index/global-mpi-2018/

Be sure to check 2019 out :

http://hdr.undp.org/en/2019-MPI

Perhaps a trifle over the top, but as for feeling for the poor is concerned, it goes beyond numbers. Remember MGR's mid-day meal scheme? It went beyond the numbers too.