World Bank sees massive job loss, dire future for Bangladesh economy

[UKBengali]

last week u were saying there is no chance we grow less then 7% this year
and u were also saying that all lost jobs will be back next week

Do you want to join the two dudes who thanked you on my ignore list?

If not, please improve the quality of your posts.

 

[ali_raza]

Do you want to join the two dudes who thanked you on my ignore list?

If not, please improve the quality of your posts.

why r u being aggressive on a professional discussion
u think i care if i m on ur ignorant list.
buddy we here talk about things which r serious
i have a long business association with bangalis and indians and soo many more.
be rational when you read my comments

 

[UKBengali]

why r u being aggressive on a professional discussion
u think i care if i m on ur ignorant list.
buddy we here talk about things which r serious
i have a long business association with bangalis and indians and soo many more.
be rational when you read my comments

Just adding you to my ignore list.

Goodbye for ever dude.

 

[Nike]

Yup a decade at very least, it could be 2 decades, there is lot of stuff that is in the churn right now and hard to say how it will shape out in end.

World very likely wont be the same "operating system" from next year on.

We can only hope and pray for the best.

Wish the world learn more important thing, dont depend on your factories in China. They failed us big times with their virus export several times before, but now covid 19 is different beast altogether. Hope there is massive relocation of industry toward other responsible countries like ASEAN and South Asian.

 

[Indos]

Just adding you to my ignore list.

Goodbye for ever dude.

What is the latest estimate for Bangladesh economic growth this year by IMF bro ? IMF has estimated 3 percent global economy contraction and it is still in breaking news in many News channel.

 

[UKBengali]

What is the latest estimate for Bangladesh economic growth this year by IMF bro ? IMF has estimated 3 percent global economy contraction and it is still in breaking news in many News channel.

So IMF thinks that BD growth will slump to 2% this year and will bounce 10% next year.


https://www.imf.org/external/pubs/f...71&pr1.y=7&c=513,564,534&s=NGDP_RPCH&grp=0&a=

 

[VikingRaider]

Bat eatin bastards should be beaten to death

But other countries have more infection than the bat eaters!

 

[Michael Corleone]

But other countries have more infection than the bat eaters!

Bat eaters are communist. They’ll say anything to keep control over their people.

 

[Nilgiri]

why r u being aggressive on a professional discussion
u think i care if i m on ur ignorant list.
buddy we here talk about things which r serious
i have a long business association with bangalis and indians and soo many more.
be rational when you read my comments

There is lot of immature drama queens gathered here. They are like little girls...if you don't play their game their specific way or talk to the "wrong person", they get into tantrum and then put a "naaah naaah naaah...can't hear you!!!" charade on.

"Goodbye forever"<---------

Grown ups are bemused for while and just move on and maybe hope there are not too many of this sort among their people in general (one can hope right?).

 

[ali_raza]

There is lot of immature drama queens gathered here. They are like little girls...if you don't play their game their specific way or talk to the "wrong person", they get into tantrum and then put a "naaah naaah naaah...can't hear you!!!" charade on.

"Goodbye forever"<---------

Grown ups are bemused for while and just move on and maybe hope there are not too many of this sort among their people in general (one can hope right?).

wht can we say
on another thread he was blabbering about economic prowess of bangladesh against india and pakistan
i told him buddy ur economy is export base which is very sensitive to market economy and situation just because u guys got gsp status doesn’t mean u guys will become qatar in 2 years
there is some thing inherently wrong with them.
economies like india or china or in some extent pakistan
they have domestic economies to absorb the shock of international market and huge market base.
while m sure india as well pakistan will be hard hit
but it will not be as bad as bangladesh even they go negative growth

 

[Nike]

But other countries have more infection than the bat eaters!

 

[ARMalik]

World Bank sees massive job loss, dire future for Bangladesh economy

GDP growth will hit 2 to 3pc

https://tbsnews.net/economy/gdp-growth-crash-highest-3pc-dire-situation-world-bank-68026

The World Bank makes a dire forecast on Bangladesh's economic growth and jobs that will worsen inequality, hit hard the poor and the massive informal workforce.

It says the coronavirus is set to bring down Bangladesh's gross domestic product growth from high-flying 8.15 percent last year to just 2 percent this year ending on June 30. The highest growth range is also predicted to be a bleak 3 percent only.

The findings were released today on the WB's twice-a-year-regional update report on South Asian economies.

Before the launching of the report, two senior officials of the WB -- Hartwig Schafer and Hans Timmer -- vice president and chief economist respectively for the South Asia region shared the key findings of their analysis with selected journalists of the region on Friday evening. The Business Standard was one of the two media outlets invited from Bangladesh at the tele-briefing hosted from Washington.

The latest South Asia Economic Focus anticipates a sharp economic slump in each of the region's eight countries, caused by halting economic activity, collapsing trade, and greater stress in the financial and banking sectors due to the Covid-19.

India's GDP is forecasted to grow at 1.5-2.8 percent while Pakistan and Sri Lanka in 2 to 3 percent negative. Maldives and Nepal that depend on tourism will be the hardest hit in the region.

The Washington-headquartered global lender said many people could potentially lose their jobs in South Asia, including Bangladesh due to a significant decline in private consumption, which will be less than half that of a year ago.

Lockdowns to prevent the spread of the Covid-19 is also taking an unprecedented toll on the economies of the region, it says.

If the lockdown were to last 2 months, employment would fall in all countries but more severely--by double-digits--if the lockdown were prolonged for 4 months. For example, for every $1 million in foregone demand for affected services sectors in Bangladesh, 125 people will be less employed.

The report says if a lockdown were to impact all non-agricultural sectors uniformly for 2 to 4 months, using the same methodology, employment losses in South Asia would range between 14 to 19 percent of total 2018 employment.

The unprecedented COVID-19 crisis comes with a dire economic outlook. South Asia might well experience its worst economic performance in 40 years, with at least half of the countries falling in a deep recession, the report says.

The harsh reality of inequality in South Asia is that poor people are more likely to become infected with the coronavirus, as social distancing is difficult to implement for them. They also have less access to health care or even soap, are more likely to have lost their job, and are more vulnerable to spikes in food prices, it reads.

World Bank is a political institution and lies to its core. The fact is that Indian GDP has been cut to ZERO by Barclays. I would rather trust in huge Multinational Barclays than the biased WB. So the Indians can now go and enjoy a GDP of ZERO!! Good luck.

https://www.livemint.com/news/india...or-india-to-zero-for-2020-11586848023858.html
Barclays cuts GDP forecast for India to zero for 2020

 

[Bilal9]

wht can we say
on another thread he was blabbering about economic prowess of bangladesh against india and pakistan
i told him buddy ur economy is export base which is very sensitive to market economy and situation just because u guys got gsp status doesn’t mean u guys will become qatar in 2 years
there is some thing inherently wrong with them.
economies like india or china or in some extent pakistan
they have domestic economies to absorb the shock of international market and huge market base.
while m sure india as well pakistan will be hard hit
but it will not be as bad as bangladesh even they go negative growth

I don't know where you are coming up with these predictions.

Bangladesh has a consumption-driven domestic economy as well, and it is no less robust than that of Pakistan or India. This is the opinion of not only AL hacks or Hasina-lovers, but most everyone in Bangladesh. Maybe not true 20 years ago, but these days is about the same.

Your knowledge of Bangladeshi economics (rather lack of it) is disturbing. The debt to GDP ratio, foreign currency reserves, global financial ratings etc. and any other sundry economic parameters about this country are all based on solid fundamentals - despite what Sanghi liars in India say. Facts are borne out by IMF, ADB and all UN financial organizations. Just because Muslim-haters say it in India - does not make it true.

I suggest you inform yourself before making wholesale comments. Google is your friend.

Making wishful comments - that "Bangladesh will be more hard-hit than India or Pakistan" after this, is a Sanghi Hindutva narrative. Don't dance to their tune.

Just because some Sanghis gave you cheap (well, free) like doesn't mean Sanghis have suddenly become friends of Pakistan. Have some confidence and independence to form your own opinion.

@Homo Sapiens bhai your thoughts please...

 

[leonblack08]

wht can we say
on another thread he was blabbering about economic prowess of bangladesh against india and pakistan
i told him buddy ur economy is export base which is very sensitive to market economy and situation just because u guys got gsp status doesn’t mean u guys will become qatar in 2 years
there is some thing inherently wrong with them.
economies like india or china or in some extent pakistan
they have domestic economies to absorb the shock of international market and huge market base.
while m sure india as well pakistan will be hard hit
but it will not be as bad as bangladesh even they go negative growth

The coronavirus fuelled global economic crisis will certainly impact Bangladesh more than it did during the 2007/08 global financial crisis. There will be millions of job losses and GDP growth will likely be below 3%, but the entire world will be in the same boat.

Currently, two of Bangladesh's biggest FX earners (RMG and Remittance) are adversely impacted by the current lockdown. Bangladesh's export basket is not well-diversified compared to India and Pakistan, so it is at higher risk. However, on a brighter note, Bangladesh RMG producers make cheap everyday use clothes, therefore demand for it will arise eventually. This is what had protected Bangladesh from the global financial crisis, Alhamdulillah.

The question is- how resilient are the Bangladeshi manufacturers in weathering this storm?

Bangladesh also does have a relatively sized domestic demand, around 294 Billion USD in 2019. There is an advantage to having a large population.

Key to Bangladesh's survival would be on the Govt.'s ability to manage the crisis. Ensure the bailout packages and relief measures are reaching the right people, not in the pockets of corrupt BAL leaders.

May Allah protect everyone.

 

[mmr]

I don't know where you are coming up with these predictions.

Bangladesh has a consumption-driven domestic economy as well, and it is no less robust than that of Pakistan or India. This is the opinion of not only AL hacks or Hasina-lovers, but most everyone in Bangladesh. Maybe not true 20 years ago, but these days is about the same.

Your knowledge of Bangladeshi economics (rather lack of it) is disturbing. The debt to GDP ratio, foreign currency reserves, global financial ratings etc. and any other sundry economic parameters about this country are all based on solid fundamentals - despite what Sanghi liars in India say. Facts are borne out by IMF, ADB and all UN financial organizations. Just because Muslim-haters say it in India - does not make it true.

I suggest you inform yourself before making wholesale comments. Google is your friend.

Making wishful comments - that "Bangladesh will be more hard-hit than India or Pakistan" after this, is a Sanghi Hindutva narrative. Don't dance to their tune.

Just because some Sanghis gave you cheap (well, free) like doesn't mean Sanghis have suddenly become friends of Pakistan. Have some confidence and independence to form your own opinion.

@Homo Sapiens bhai your thoughts please...

Bangladesh suffering from this crisis wont be bad thing if our government learn from it and take some much needed reforms. Like in the tax...land registration...bankruptcy law and many more.