Bangladesh becomes a lender for first time

[Death Professor]

Mate just because you dont have a clue about what an LDC is and how that classification came about does not mean the rest of us share your ignorence.

Given pakistans stats if you think you are not an LDC, I wish you well.

Not your mate, son.

Also we aren't in LDC, you are and will be until you graduate from it(not just make announcement about it, but actually graduate from it). Now how can I educate you on a simple FACT that we graduated from LDC long time ago, whether it was wise decision or not that's totally a different question(we don't have baniya mentality, and we make stupid decisions from time to time). But living in delusions doesn't change facts. Literally on paper, you are still in LDC while we and India are not, now if you wanna argue for the sake of arguing and keep on saying what you wanna say.. Mujhe kia, kutte bhonkte rehtay hain... none of my concern.

Saltier than the lad in the Profile Picture.

Congratulations.

Is that supposed to be a dis? I am sprinkling some here and I see who is absorbing all that.

Please research a bit more so your posts are more credible and accurate.

If you require information - ask nicely, and it will be provided.

But cavalier attitudes will honestly not solicit any responses from informed folks.

Yeah mb, I am sorry that I provided sources for my claims after that comment. Meanwhile, no one in this thread had the time or the resources to google, correct me if it wasn't the case(regarding exports). The other guy who responded had a reasonable argument and dodged the export bullet altogether by stating that the Bangladesh GDP is based on internal consumption. Ignoring the fact that money earned from export + remittances is what pays of for your imports. So all the wealth that is being generated is either on the back of that LDC status(meaning exports) and remittances. That money is what enable your internal economic progress.

Now, I don't really live in Bangladesh so I don't really know what's really the situation in Bangladesh. Sure your debt situation is great. But. it's kind of funny when people who don't even really live in a country and still state that service sector is booming, we moved from being agrarian to now providing services. Yeah, yeah that's the reason why you lot choose to move out of the country, because the service sector was looking this promising the fundamentals were great and corruption was a foreign concept. Yup, that was definitely the case. Getting smartphone in the hand of beggar or getting zwitty or shmitty (food delivery service) doesn't mean its economic growth or getting fridge and coolers made at home that somehow your fundamentals are perfect. Like who are we deluding here? The question still stands what are you exporting( and btw my list/sources were from 2 years back), is it still the things that I listed or are the major exports different from what I stated?

 

[bluesky]

The $35bn export earning belongs to the industrialists and the $18bn remitences belong to the families who receive the remitence. These are not funds available to the government to do anything with.

Importation of foreign goods are not lead by government, they merely set import tax policies to maximise tax revenue and provide support and cover for local industry. There is massive misunderstanding on your part on basic economics.

Government borrows money for infrastructural projects because the GOB earning is fairly low from taxations. Remitence and export earning let me reiterate are not governments money to spend and invest as it will.

A great novice like you should stop patronizing others. You have no knowledge of national economic development.

In a usual country, the would-be industrialists borrow money from the commercial or industrial banks and import Capital Goods from industrialist countries. A positive-minded govt supports them by providing dollars through Banks for payment of the imports.

In the case of BD, the govt itself borrows all the money available in the Banks and waste them to construct many unnecessary projects. It keeps the foreign exchange in foreign banks and then asks other countries to provide loans for doing prestigious projects.

Why do you think the govt should pay everything from its tax money? A very stupid thing you have said and you are preaching to me on national economics!! Very strange!!

Time is not over, it is only May. Tomorrow I will apply for admission to a Kindergarten and I wish you become my economics teacher there, idiot!!

If you don't know about something it is wiser to learn instead of pretending to teach others.

 

[SpaceMan18]

Not your mate, son.

Also we aren't in LDC, you are and will be until you graduate from it(not just make announcement about it, but actually graduate from it). Now how can I educate you on a simple FACT that we graduated from LDC long time ago, whether it was wise decision or not that's totally a different question(we don't have baniya mentality, and we make stupid decisions from time to time). But living in delusions doesn't change facts. Literally on paper, you are still in LDC while we and India are not, now if you wanna argue for the sake of arguing and keep on saying what you wanna say.. Mujhe kia, kutte bhonkte rehtay hain... none of my concern.



Is that supposed to be a dis? I am sprinkling some here and I see who is absorbing all that.




Yeah mb, I am sorry that I provided sources for my claims after that comment. Meanwhile, no one in this thread had the time or the resources to google, correct me if it wasn't the case(regarding exports). The other guy who responded had a reasonable argument and dodged the export bullet altogether by stating that the Bangladesh GDP is based on internal consumption. Ignoring the fact that money earned from export + remittances is what pays of for your imports. So all the wealth that is being generated is either on the back of that LDC status(meaning exports) and remittances. That money is what enable your internal economic progress.

Now, I don't really live in Bangladesh so I don't really know what's really the situation in Bangladesh. Sure your debt situation is great. But. it's kind of funny when people who don't even really live in a country and still state that service sector is booming, we moved from being agrarian to now providing services. Yeah, yeah that's the reason why you lot choose to move out of the country, because the service sector was looking this promising the fundamentals were great and corruption was a foreign concept. Yup, that was definitely the case. Getting smartphone in the hand of beggar or getting zwitty or shmitty (food delivery service) doesn't mean its economic growth or getting fridge and coolers made at home that somehow your fundamentals are perfect. Like who are we deluding here? The question still stands what are you exporting( and btw my list/sources were from 2 years back), is it still the things that I listed or are the major exports different from what I stated?

Lmao Pakistan is not in the LDC ? I didn't know Pakistan was a developed nation already

Btw yeah both nations of Bangladesh and Pakistan sucks in general , Bangladesh does have more talk than walk sadly

Bangladesh’s Top Exports 2022

Bangladesh’s major exports in 2022 plus main product surpluses & deficits

www.worldstopexports.com

Here's a link showing that electronics is on the lower side of exports for Bangladesh but it's going to grow , only if Bangladesh industrializes

 

[bluesky]

We can't do anything if SL chooses not to payback. Their credit rating would suffer, that's all.

Now, tell me one thing. Pakistan is unable to pay back its $93 billion it took as LOAN and not INVESTMENT. So, how the lenders will act in this case, will they get it back? Any suggestions? Note that it is not investment money.

 

[UKBengali]

Lmao Pakistan is not in the LDC ? I didn't know Pakistan was a developed nation already

Ignore the dude as he is obviously butthurt at BD surpassing Pakistan in every economic and social indicator and by 2035, unless Imran Khan pulls a rabbit out of a hat, then BD and Pakistan would look like totally different countries - Pakistan still stuck in 3rd world while BD joins the 2nd world


I think IMF knows what they are talking about:

Report for Selected Countries and Subjects

www.imf.org

I do wish Pakistan does turn itself around but like I predicted many years ago, CPEC would not be a panacea for the deep rooted problems in Pakistan society that has been holding it back.
Those above growth figures actually loook better for Pakistan as it has 1 % faster population growth than BD and so BD is like growing it's gdp per capita 3-4% faster than Pakistan.

If the economic orgs are right, then BD would be in a totally different economic league compared to Pakistan by 2035 and that is not good for either Pakistan or even BD as it needs a strong Pakistan to balance out India.

 

[SpaceMan18]

Ignore the dude as he is obviously butthurt at BD surpassing Pakistan in every economic and social indicator and by 2035, unless Imran Khan pulls a rabbit out of a hat, then BD and Pakistan would look like totally different countries - Pakistan still stuck in 3rd world while BD joins the 2nd world


I think IMF knows what they are talking about:

Report for Selected Countries and Subjects

www.imf.org

View attachment 747993


I do wish Pakistan does turn itself around but like I predicted many years ago, CPEC would not be a panacea for the deep rooted problems in Pakistan society that has been holding it back.
Those above growth figures actually loook better for Pakistan as it has 1 % faster population growth than BD and so BD is like growing it's gdp per capita 3-4% faster than Pakistan.

If the economic orgs are right, then BD would be in a totally different economic league compared to Pakistan by 2035 and that is not good for either Pakistan or even BD as it needs a strong Pakistan to balance out India.

The rise of A.I will fu*k both of these nations to hell , Bangladesh needs to decrease it's population a lot more if it wants more people having jobs and actually the gdp per capita being much higher.

Bangladesh needs to industrialize QUICK cause we have no time with dick measuring contest with Pakistan.

Bangladesh's growth is good but not good enough to not get fked by the future , Bangladesh is stuck between a hard place and a rock for it's future decisions.

One issue if removed can make Bangladesh much closer to developed and that issue is corruption

 

[Anubis]

Not your mate, son.

Also we aren't in LDC, you are and will be until you graduate from it(not just make announcement about it, but actually graduate from it). Now how can I educate you on a simple FACT that we graduated from LDC long time ago, whether it was wise decision or not that's totally a different question(we don't have baniya mentality, and we make stupid decisions from time to time). But living in delusions doesn't change facts. Literally on paper, you are still in LDC while we and India are not, now if you wanna argue for the sake of arguing and keep on saying what you wanna say.. Mujhe kia, kutte bhonkte rehtay hain... none of my concern.



Is that supposed to be a dis? I am sprinkling some here and I see who is absorbing all that.




Yeah mb, I am sorry that I provided sources for my claims after that comment. Meanwhile, no one in this thread had the time or the resources to google, correct me if it wasn't the case(regarding exports). The other guy who responded had a reasonable argument and dodged the export bullet altogether by stating that the Bangladesh GDP is based on internal consumption. Ignoring the fact that money earned from export + remittances is what pays of for your imports. So all the wealth that is being generated is either on the back of that LDC status(meaning exports) and remittances. That money is what enable your internal economic progress.

Now, I don't really live in Bangladesh so I don't really know what's really the situation in Bangladesh. Sure your debt situation is great. But. it's kind of funny when people who don't even really live in a country and still state that service sector is booming, we moved from being agrarian to now providing services. Yeah, yeah that's the reason why you lot choose to move out of the country, because the service sector was looking this promising the fundamentals were great and corruption was a foreign concept. Yup, that was definitely the case. Getting smartphone in the hand of beggar or getting zwitty or shmitty (food delivery service) doesn't mean its economic growth or getting fridge and coolers made at home that somehow your fundamentals are perfect. Like who are we deluding here? The question still stands what are you exporting( and btw my list/sources were from 2 years back), is it still the things that I listed or are the major exports different from what I stated?

LDCs are judged on 3 criteria:
HAI
EVI
GNI
Source: https://www.un.org/development/desa/dpad/least-developed-country-category/ldc-criteria.html

Bangladesh surpassed Pakistan in HAI during the 2000s.
Source: https://ferdi.fr/dl/df-PyXSj46Tfs8m...ng-retrospective-series-from-1970-to-2008.pdf

Bangladesh does better in EVI than Pakistan.
Source: http://islands.unep.ch/EVI 2004 Technical Report.pdf

I am not even going to insult you by talking about GNI.

Congratulations to Pakistan on not being an LDC.

 

[bluesky]

IMF likes to privatise state owned assets and increase the price of utilities like water ,electricity etc. look at what they did to south american countries , robbed them blind.

Could you please elaborate on the bold part? I just want to know about this Latin phenomenon in relation to utilities services and prices.

 

[Death Professor]

LDCs are judged on 3 criteria:
HAI
EVI
GNI
Source: https://www.un.org/development/desa/dpad/least-developed-country-category/ldc-criteria.html

Bangladesh surpassed Pakistan in HAI during the 2000s.
Source: https://ferdi.fr/dl/df-PyXSj46Tfs8m...ng-retrospective-series-from-1970-to-2008.pdf

Bangladesh does better in EVI than Pakistan.
Source: http://islands.unep.ch/EVI 2004 Technical Report.pdf

I am not even going to insult you by talking about GNI.

Congratulations to Pakistan on not being an LDC.

Sorry if the list surprises you guys. I haven't changed my claim. Unlike you guys, who keep on changing the target post. I wrote multiple time Pakistan is not on LDC list and Pakistan doesn't enjoy LDC status. If it's hard to consume/digest then its not my fault.

UN list of least developed countries

There are currently 45 economies designated by the United Nations as the least developed countries (LDCs), entitling them to preferential market access, aid, special technical assistance, and capacity-building on technology among other concessions.

unctad.org

1. Afghanistan
2. Angola
3. Bangladesh
4. Benin
5. Bhutan
6. Burkina Faso
7. Burundi
8. Cambodia
9. Central African Republic
10. Chad
11. Comoros
12. Democratic Republic of the Congo
13. Djibouti
14. Eritrea
15. Ethiopia
16. Gambia
17. Guinea
18. Guinea-Bissau
19. Haiti
20. Kiribati
21. Lao People’s Democratic Republic
22. Lesotho
23. Liberia
24. Madagascar
25. Malawi
26. Mali
27. Mauritania
28. Mozambique
29. Myanmar
30. Nepal
31. Niger
32. Rwanda
33. Sao Tome and Principe
34. Senegal
35. Sierra Leone
36. Solomon Islands
37. Somalia
38. South Sudan
39. Sudan
40. Timor-Leste
41. Togo
42. Tuvalu
43. Uganda
44. United Republic of Tanzania
45. Yemen
46. Zambia

Lmao Pakistan is not in the LDC ? I didn't know Pakistan was a developed nation already

• Btw yeah both nations of Bangladesh and Pakistan sucks in general

  Agreed.

Bangladesh’s Top Exports 2022

Bangladesh’s major exports in 2022 plus main product surpluses & deficits

www.worldstopexports.com

Here's a link showing that electronics is on the lower side of exports for Bangladesh but it's going to grow , only if Bangladesh industrializes

I already shared the link. You can go through post#36 to understand the context. All the points I made still stand.

 

[Anubis]

Sorry if the list surprises you guys. I haven't changed my claim. Unlike you guys, who keep on changing the target post. I wrote multiple time Pakistan is not on LDC list and Pakistan doesn't enjoy LDC status. If it's hard to consume/digest then its not my fault.

UN list of least developed countries

There are currently 45 economies designated by the United Nations as the least developed countries (LDCs), entitling them to preferential market access, aid, special technical assistance, and capacity-building on technology among other concessions.

unctad.org

1. Afghanistan
2. Angola
3. Bangladesh
4. Benin
5. Bhutan
6. Burkina Faso
7. Burundi
8. Cambodia
9. Central African Republic
10. Chad
11. Comoros
12. Democratic Republic of the Congo
13. Djibouti
14. Eritrea
15. Ethiopia
16. Gambia
17. Guinea
18. Guinea-Bissau
19. Haiti
20. Kiribati
21. Lao People’s Democratic Republic
22. Lesotho
23. Liberia
24. Madagascar
25. Malawi
26. Mali
27. Mauritania
28. Mozambique
29. Myanmar
30. Nepal
31. Niger
32. Rwanda
33. Sao Tome and Principe
34. Senegal
35. Sierra Leone
36. Solomon Islands
37. Somalia
38. South Sudan
39. Sudan
40. Timor-Leste
41. Togo
42. Tuvalu
43. Uganda
44. United Republic of Tanzania
45. Yemen
46. Zambia

• 
  Agreed.

I already shared the link. You can go through post#36 to understand the context. All the points I made still stand.

Changing the target doesn't change the score..as I said we are better than Pakistan in all LDC markers...but Congratulations again on not being an LDC.

 

[Destranator]

Sorry if the list surprises you guys. I haven't changed my claim. Unlike you guys, who keep on changing the target post. I wrote multiple time Pakistan is not on LDC list and Pakistan doesn't enjoy LDC status. If it's hard to consume/digest then its not my fault.

UN list of least developed countries

There are currently 45 economies designated by the United Nations as the least developed countries (LDCs), entitling them to preferential market access, aid, special technical assistance, and capacity-building on technology among other concessions.

unctad.org

1. Afghanistan
2. Angola
3. Bangladesh
4. Benin
5. Bhutan
6. Burkina Faso
7. Burundi
8. Cambodia
9. Central African Republic
10. Chad
11. Comoros
12. Democratic Republic of the Congo
13. Djibouti
14. Eritrea
15. Ethiopia
16. Gambia
17. Guinea
18. Guinea-Bissau
19. Haiti
20. Kiribati
21. Lao People’s Democratic Republic
22. Lesotho
23. Liberia
24. Madagascar
25. Malawi
26. Mali
27. Mauritania
28. Mozambique
29. Myanmar
30. Nepal
31. Niger
32. Rwanda
33. Sao Tome and Principe
34. Senegal
35. Sierra Leone
36. Solomon Islands
37. Somalia
38. South Sudan
39. Sudan
40. Timor-Leste
41. Togo
42. Tuvalu
43. Uganda
44. United Republic of Tanzania
45. Yemen
46. Zambia

• 
  Agreed.

I already shared the link. You can go through post#36 to understand the context. All the points I made still stand.

I think there is some miscommunication among you guys. Sure, Pakistan is not officially categorised as an LDC because Pakistan just like India opted not to unlike BD.
However, if you look at the economic parameters that determine LDC status, Pakistan fits the criteria.

 

[UKBengali]

The rise of A.I will fu*k both of these nations to hell , Bangladesh needs to decrease it's population a lot more if it wants more people having jobs and actually the gdp per capita being much higher.

Bangladesh needs to industrialize QUICK cause we have no time with dick measuring contest with Pakistan.

Bangladesh's growth is good but not good enough to not get fked by the future , Bangladesh is stuck between a hard place and a rock for it's future decisions.

One issue if removed can make Bangladesh much closer to developed and that issue is corruption

AI will take many many decades to have significant effects and so BD has time to adjust. No BD does not need to decrease its population as having a large population but stable population can help if they are utilised properly.

So far it is doing the best out of any S Asian country in moving out of poverty and this AL government is the best choice at this month.

Corruption happens everywhere and there are plenty of scandals and high levels if corruption in now developed countriesd like S Korea and that did not stop them from getting rich.

Remember that people like IMF, ADB, CEBR know a lot more than you and me and they are optimistic for BD's future and so best go with what they say.

At this moment it makes little sense to put BD and Pakistan in the same economic bracket apart from both are at a similar level of poverty. The real difference is that one is moving ahead quickly(BD) while the other is not.

 

[Destranator]

Now, tell me one thing. Pakistan is unable to pay back its $93 billion it took as LOAN and not INVESTMENT. So, how the lenders will act in this case, will they get it back? Any suggestions? Note that it is not investment money.

That would depend on the lenders. For example IMF could lobby to impose economic sanctions. Pakistani assets overseas could be frozen. Not repaying billions would cause Pakistan's credit rating to nose dive which would shut them out of future sources of finance.
Foreign banks would refuse to trade with Pakistanis institutes.
Wealthy Pakistanis would panic and launder all their money out. Pakistani rupee exhange rate would collapse to mutiple hundreds of units per USD.

 

[Death Professor]

I think there is some miscommunication among you guys. Sure, Pakistan is not officially categorised as an LDC because Pakistan just like India opted not to unlike BD.
However, if you look at the economic parameters that determine LDC status, Pakistan fits the criteria.

I did state kind of that in post # 74. People skip the context and jump to comment without knowing the whole context. And again my issue is with exports. The major exports for Bangladesh are still clothing based, there is no chip manufacturing exports, there is no machinery exports. Bangladesh isn't a tech power house, you are being benefited greatly from LDC status and this will change once you graduate from it. And it will be quite competitive unlike NOW. That was my whole point and people here knit-pick and think I am attacking them, mean while I am only stating the obvious. I asked for export diversity and not a single comment showed or proved that I was wrong.

 

[Destranator]

I did state kind of that in post # 74. People skip the context and jump to comment without knowing the whole context. And again my issue is with exports. The major exports for Bangladesh are still clothing based, there is no chip manufacturing exports, there is no machinery exports. Bangladesh isn't a tech power house, you are being benefited greatly from LDC status and this will change once you graduate from it. And it will be quite competitive unlike NOW. That was my whole point and people here knit-pick and think I am attacking them, mean while I am only stating the obvious. I asked for export diversity and not a single comment showed or proved that I was wrong.

I agree with you fully on the vulnerability of our export basket. 80%+ dependency on apparel is pathetic. Yes, we definitely benefit from lower duties due to LDC status but withdrawal of LDC provileges alone is unlikely to cause a significant shrink in exports. A good case study is Bangladesh's exports to the US. Bangaldesh's entry to the US market is heavily disadvantaged vis a vis other developing countries as we are not afforded any privileges such as GSP, GSP+, etc. at this time and as a result pay higher duties. Despite the barrier to entry, our exports to the US are still rising steadily.
The LDC tag also comes with a lot of baggage as it discourages foreign investors from investing big in high values products and services.
Bangladesh's main challenge is to expand the export basket to include a few other ten billion dollar+ export items.