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June 27, 2020 NEWSLETTER |
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Bangladesh locks down seven more ‘red’ areas The government has announced general holiday in seven more areas in four districts declaring them high-risk zones for coronavirus infection. The lockdown became effective at the newly declared virus red zones in Cox’s Bazar, Magura, Khulna and Habiganj from Wednesday. The local authorities will now be able to put strict curbs on normal life in the areas. Offices and factories in these areas are closed while traffic and public movement is also restricted. The government has imposed restrictions over coronavirus in a total of 45 areas in three phases after lifting the nationwide lockdown on June 1, 2020. |
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Govt plans more walk-in kiosks to intensify Covid-19 testing 
A plan has been set in motion for a regulated expansion of the kiosk or "wisk" approach for Covid-19 testing, engaging non-government or private organisations as the situation demands an intensified campaign to detect infections. The 'wisks' are sanitised glass cabins from where medical technologists or healthcare professionals with protective gears collect throat swabs of people who stand or sit outside while one health worker with extra protection requires to remain outside during sample collections. According to DGHS 61 PCR labs were set up across the country which now examines 15,000 to 18,000 samples everyday. |
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Forex reserves hit $35 billion for the first time 
The country’s foreign exchange reserves have set a new record, hitting $35 billion for the first time in its history amidst the ongoing coronavirus crisis. According to central bank data, from June 1 to June 18 of the 2019-20 fiscal year, Bangladeshi expatriates had sent $1.20 billion as remittance, whereas the country received $1.36 billion in June of the 2018-19 fiscal year. Inward remittances remained largely unscathed, thanks to 2% incentives, which is why the government has decided to continue the incentive in fiscal 2020-21. The amount is enough to bear the import cost for nine months, while a country must have foreign currency reserves equivalent to the import cost of three months, according to international standards. |
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Bangladesh to post highest GDP growth in Asia this fiscal year: ADB 
A recent report, released by the Asian Development Bank, has put Bangladesh on the top in the league of Asian countries in terms of achieving GDP (gross domestic product) growth in the current fiscal year, offsetting the impact of coronavirus pandemic, which has pushed economic activities around the globe to a grinding halt. In its Asian Development Outlook Supplement (ADOS), it said that the country would grow at 7.5% next fiscal year that begins on July 1, helped by strong manufacturing. The per capita income is being estimated by the government at $ 1,968.73 this FY against $1,909 at the end of the 2018-19 FY. |
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World Bank to provide $1 billion to help Bangladesh post-Covid 
Bangladesh's efforts to feed the nation, create jobs and keep the economy afloat amid the progressively ferocious pandemic received a shot in the arm after the World Bank approved a $1.05 billion financial assistance. The latest round of fund injection from the WB came for three projects to help the country create quality jobs, accelerate economic recovery from the coronavirus pandemic and build resilience to future crises. The projects will help the people and the economy bounce back by creating more and better jobs and promoting direct private investment in specialised economic zones while enhancing the foundations for a digital economy. |
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Bangladesh among top three Asian nations promoting green financing 
Green financing is rapidly gaining popularity in the Bangladesh market thanks to the country's specific focus on issuing green loans, according to an International Finance Corporation (IFC) report. Over the past few years, Bangladesh Bank has encouraged both banks and non-banking financial institutions (NBFI) to implement a 'go-green' policy while encouraging client firms to adopt clean technology that reduces costs and ensures overall sustainability. Green financing in Bangladesh increased to about US$ 392.8 million by December 2019, up from US$ 247.4 million year-on-year. |
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Govt launches agri market portal to boost trade 
The government on Wednesday launched an online agricultural market portal styled 'hortexbazarbd.com' aiming to boost farm product trade during the novel coronavirus pandemic. Hortex Foundation, an organisation under the ministry of ariculture which focuses mainly on the external trade of farm produce, has developed the portal. The web portal will deal with both local and foreign buyers, according to media reports. People can order seasonal fruits like mango, litchi, banana, fragrant rice and sundry other products using the site which would reach their doorsteps. |
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BANGLADESH AWAMI LEAGUE |
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