Bangladesh Commodities and Currencies

Bangladesh Commodities and Currencies

Bangladesh Commodities and Currencies

Bangladeshi taka is the currency of the People’s Republic of Bangladesh. Among the factors that have led this country to grow above 7% is the commitment to technology and financial inclusion.

Until 2006, Bangladesh had an annual economic growth below 6%, due to its low development and the precarious living conditions faced by its inhabitants. However, with the passage of time and the implementation of a new economic, social and political vision, this country managed to change its history to the point that, the World Bank, predicts that this nation will expand 7.2% at the end of this year, and these conditions directly affect on gold price today.

The above scenario has led analysts and international media to classify the case of Bangladesh as “an economic miracle”, which should be replicated by other countries such as Latin America to increase their growth levels. This projection is based on the growth that its economy registered in 2019 (8.1%), which was marked by “the increase in exports and remittances, a net foreign direct investment that increased 42.9% and private consumption that grew 5.4% ”, according to the World Bank.

Regarding this, Daniel Castellanos, president of Impacta, explained that “the first thing that must be taken into account when taking this nation as a reference is its population since Bangladesh and India have a greater number of inhabitants. For example, the population of India is four times that of Brazil (the largest economy in the region), so investors find it more attractive ”.

“In Latin America, important progress has also been made in reducing poverty. For example, in Colombia there has also been progressing in strengthening the middle class ”.

“From economies like Bangladesh, we have to learn how to improve human capital through education and investment in technology for competitiveness.”

In addition to the above advantage, Bangladesh and Asian countries, in general, have made significant investments in technology and training for their citizens, which is why it is common to see Asian universities among the best in the world, said Castellanos who also explained that of the strategies he has carried out in Bangladesh, Colombia should adopt some as an improvement in exports and in training human capital, and oil that’s why Bangla oil price up to and down.

The notes of the president of Impacta are based on the good results that Bangladesh has registered in recent years. According to the World Bank, “the signs of this country’s progress are found everywhere, from modern factories and technological innovations, such as solar-powered irrigation, to the hopes and aspirations of apprentices in the world’s factories. clothes that are transferred to Dhaka from the poorest parts of the country ”.

The economic condition of Silver

The above results may draw the attention of the leaders of different countries, however, the World Bank noted that the progress that Bangladesh has made is the fruit of several years. In previous periods, there were relevant results such as that “20 million people came out of poverty in two decades and the poverty rate fell from 44.2% in 1991 to 18.5% in 2010,” the multinational organization recalled, silver import and export is high in Bangladesh and economic conditions affect on silver price in Bangladesh.

These results in terms of poverty were also highlighted by Carlos Sepúlveda, dean of economics at Rosario University, who assured that part of the success that the Bangladesh economy has had is based on the fact that they have important models of financial inclusion for vulnerable populations. “However, Bangladesh is not the only economy that should serve as an example for other countries, as important bets have also been made in China and India,” he added.

When thinking about what should be brought to the Colombian context of what Asians have done, Sepúlveda pointed out that it is important to map good practices around the world, but specifically from Asia, the technology transformation, and financial inclusion that they have done should be analyzed and taken. in recent years.

However, “what the Latin American economies have done to mitigate inequality should not be overlooked. For example, in Colombia progress has also been made with policies that allow the strengthening of the middle class ”, concluded the dean of Economy.

Although the Bangladeshi economy has made significant progress in the past 14 years, the World Bank noted that it still faces some challenges such as reducing widespread corruption in government, reducing the size of the public sector, and improving its competitiveness.

The good moment that the economies of South

Asia is going through South Asia, in general, is going through a good moment, for example, it will grow 5.5% this year, according to the World Bank. The expansion projections for that part of the continent are above the world average, which will be 2.5% at the end of this year. This panorama is due to the fact that “the countries of that continent have many trade agreements and increasingly manufacture more products for different markets.