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The Financial Express

BD ninth strongest emerging economy in dealing with COVID-19 aftermath  

| Updated: May 03, 2020 10:05:28


Lankabangla and Fianancial Express Lankabangla and Fianancial Express
BD ninth strongest emerging economy in dealing with COVID-19 aftermath   

The Economist, the leading source of analysis on international business and world affairs, has listed Bangladesh as the ninth strongest economy in its report on the financial strength of 66 emerging economies in the wake of the Covid-19 fallout.

The ranking examines the vulnerability of selected economies across four potential sources of peril: public debt as percentage of GDP, foreign debt (both public and private), cost of borrowing and reserve cover.

According to the ranking, the economy of Bangladesh has featured as strong or relatively strong in all said indicators. It is ahead of China, India and other South Asian countries in the ranking.

Botswana tops the list of countries with the strength of its indicators while Venezuela fared as most vulnerable, according to UNB.

Emerging economies collectively owe $17 trillion of government debt, 24 per cent of the global total.

Eighteen of them have had their credit ratings cut in 2020 so far by Fitch, more than in the whole of any previous year.

Argentina has missed a $500 million payment on its foreign bonds.  If it cannot persuade creditors to swap their securities for less generous ones by May 22nd, it will be in default for the ninth time in its history, according to the Economist.

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