Bangladesh tops the list of emerging economies: Research...

Bangladesh tops the list of emerging economies: Research

 Staff Correspondent

 Published: 08:27 PM, 22 May 2022  

Bangladesh tops the list of emerging economies: Research; File Photo

Bangladesh tops the list of emerging economies: Research; File Photo

The Russia-Ukraine war has had an impact on the world amid Covid-19 pandemic situation. Even in this tough situation, the economy of Bangladesh is in a strong position and the country ranks first in the list of emerging economies of the world.

With the exception of a few oil-exporting countries, the value of the currency against the dollar has dropped in almost all countries of the world. Bangladesh ranks second in the world, Subcontinent, among the countries where the value of its own currency has depreciated against the dollar.

At the same time, the value of Bangladeshi taka has risen against the currencies of almost all the countries of the world except a few oil-exporting countries.

This information was presented by Selim Mahmud, from a study conducted by the Information and Research Sub-Committee of the Bangladesh Awami League.

He presented the research paper at a meeting of the party's information and research sub-committee at the Awami League president's office at Dhanmondi on Sunday afternoon.

The study, conducted on the basis of internationally recognized data, showed that the currency had depreciated sharply against the dollar in all parts of the world, except for a few oil-exporting countries, due to the subsequent Russia-Ukraine war. The value of Bangladeshi Taka has also gone down somewhat. However, the depreciation of the Bangladeshi currency is very low compared to other countries in the world. Cambodia ranks first in the world and Bangladesh ranks second among the countries with the lowest depreciation of its currency against US dollars.

The study showed that Bangladeshi taka's purchasing power has fallen by 3.41 per cent, Indian rupee by 6.83 per cent, Pakistani rupee by 30.63 per cent, Nepalese rupee by 6.48 per cent, Myanmar kyat by 12.67 per cent and Chinese yuan by 5.4 per cent and Thai Baht by 9.8 per cent, Japanese yen by 17.32 per cent, South Korean won by 12.06 per cent, Malaysian ringgit by 3.9 per cent, Philipino peso by 9 per cent, Taiwan dollar by 6.4 per cent, Singapore dollar by 3.75 per cent and Cambodian real by zero percent,  Brunei dollar by 3.60per cent, Laos Lao Kip by 41per cent , Turkish lira by 89.37per cent, Egyptian pound by 14.5per cent, South African rand by 13.66per cent, Australian dollar by 9.17per cent, New Zealand dollar by 10.77 per cent, British pound by 11.86 per cent, Euro by 13.40 per cent, Swiss franc by 8.55 per cent, the Swedish kroner 19.67 per cent, the Norwegian kroner 16.54 per cent, Danish kroner 15.39 per cent and Polish zloty 18.84 per cent, Canadian dollar 6.32 percent, Argentine peso 11.5 percent and the Chilean peso 15.44 percent.

It also shows that the value of Bangladeshi taka has risen against the currencies of almost all countries of the world except Brazil and a few oil-exporting countries. Among the currencies against which the Bangladeshi taka has risen by 13.86 per cent against Japanese yen, 10.94 per cent against euro, 2.73 per cent against Indian rupee, 8.07 per cent against the British pound, 6.45 per cent against the Australian dollar and 1.32 per cent against Chinese yuan, 2.94 per cent against Canadian dollar, 9.38 per cent against the South Korean won, 11.97 per cent against the Danish krone, 21.69 per cent against Argentine peso, 4.92 per cent against Swiss franc and 7.47 per cent against New Zealand dollar.

The study showed that the currencies of Russia and Brazil, the only two countries to rise against the dollar. The Russian ruble gained 19.05 per cent and the Brazilian real rose by 8.97 per cent.

Awami League Information and Research Secretary Selim Mahmoud said that the world was going through a deep economic crisis and instability due to the effects of the Russia-Ukraine war in the aftermath of Covid-19. At this time, the BNP and its allies want to spread rumours and propaganda in Bangladesh and create instability in the country. They are anti-national evil forces. Their conspiracies must be resisted in the interest of the motherland and the nation.

He said Bangabandhu's daughter Sheikh Hasina has put Bangladesh's economy on a strong position. Envious of the skyscraper success of Sheikh Hasina and the Awami League, the anti-national forces are carrying out various propaganda. They want the destruction of Bangladesh. They have to be resisted.

Dr Selim further said that the members of the Information and Research Sub-Committee will act as watchdogs in every field of the country in the national interest and will be active in every digital platform including social media to counter this propaganda and conspiracy.

At the meeting, a member of the Information and Research Sub-Committee and Chairman of Bangladesh Satellite Company Dr Shahjahan Mahmud presented information against various propaganda about Bangabandhu Satellite.

He said the state is saving a huge amount of foreign currency as a result of taking satellite services on all television channels in Bangladesh. If we did not use our own satellite, this money would have to be paid to a foreign company. As a result, Bangabandhu Satellite is not making any profit - those who are saying this are spreading heinous lies and spreading propaganda.

Sajjadul Hasan, another member of the Information and Research Sub-Committee and Chairman of the Board of Directors of Bangladesh Biman, said that Prime Minister Sheikh Hasina has taken Bangladesh to a unique height by showing immense expertise in every field of the state including agriculture, industry, communication and physical infrastructure. No matter how many conspiracies and propaganda against the country, Bangladesh can no longer be suppressed. Under the leadership of Sheikh Hasina, Bangladesh will move forward in its own glory.

University Grants Commission member and information and research sub-committee member Professor Biswajit Chand said that various conspiracies are going on in Bangladesh. The conspirators are engaged in new conspiracies to make Bangladesh fail state. This conspiracy cannot be allowed to succeed in any way. This is the ideology and consciousness of our great liberation war.

Janata Bank Chairman and Member of the Board of Directors Professor Mahfuzur Rahman said that Bangladesh is a strong country in every sense of the word, financially and economically. There is no reason for Bangladesh to go back. The anti-state forces are jealous of the country's success and are carrying out anti-national propaganda. State leader Sheikh Hasina is the only claimant to this success.

Information and research sub-committee member Jahanara Arju, M Enamul Haque Abir, Amena Kohinoor, Abul Fazal Raju, Syed Abu Toha, Barrister Soumitra Sardar, Adv. Jamal Mia, Dr. Shabnam Jahan, Raihan Kabir, Major (Retd.) MA Sayeed Khan and Rashidul Basar Dollar spoke at the meeting.

Prof. Asim Sarkar, Prof. Sheikh Adnan Fahad, Sarwar Mamun Chowdhury, Advocate Arefa Parveen Tapsi, Md. Rajib Hossain, Md. Alamgir Hossain, Zaman Sikder, Sohail Talha, Adv. Shawkat Ali Patwari Tuhin, Zaman Sikder, Shafiqul Islam, Rezaul Islam Sekandar, Joynal Abedin, Aminul Islam, Reza Enayet, Shahriar Hossain Bidyut and Lipon Mandal among others were present.