Regional & International Economy

Commerce Secretary Dr. Md. Jafar Uddin, on Thursday, said Bangladesh will lose a number of duty-free quota-free (DFQF) facilities after its graduation from the existing least developed country (LDC) status.

The year 2020 could have been a watershed for Bangladesh. Policymakers would have put their heads together and looked at what have been achieved and what went wrong in order to set targets accordingly to become a prosperous and developed nation.

·        Bangladesh’s economy achieves progress despite corona ·        GDP growth still better than many countries ·        Export diversification vital for sustaining growthBangladesh has faced major economic challenges in 2020 amid the Covid-19 pandemic.

Disasters fuelled by weather and climate extremes brought “catastrophic results for millions” across rich and poor nations in 2020, causing thousands of deaths and tens of billions of dollars in losses, charity Christian Aid said on Monday.

Bangladesh will become the 25th largest economy in the world by 2035, advancing from 41st place this year thanks to steady growth, a new report said.

Asian markets were mostly higher Monday as US President Donald Trump signed a massive coronavirus relief bill, boosting positive sentiment despite ongoing concern over a new strain of Covid-19.

Financial markets in Australia, Hong Kong, India, Indonesia, Malaysia, New Zealand, the Philippines, Singapore and South Korea are closed on Friday for a public holiday.

The euro rose to $1.22 and the dollar fell on Wednesday as foreign exchange traders looked beyond US President Donald Trump’s threat to block a $892 billion COVID-19 aid package, reports Reuters.

Finance Minister AHM Mustafa Kamal today said that the economy of Bangladesh is in good shape and also heading towards the right direction despite the Coronavirus (COVID-19) pandemic is taking a toll on the global economy.

Despite a sharp fall in global trade in 2020 due to the coronavirus pandemic and lingering trade tensions, Asia and the Pacific is expected to perform relatively “less bad” than the rest of the world, the United Nations development arm in the region said on Tuesday.