If widespread social distancing must be pursue, then effective steps must be made to get food, fuel, and cash into the hands of the people most at risk of hunger and deprivation. This is especially challenging in countries without well-developed social protection infrastructure. The government has taken a right decision based on economic benefits and support system to the needy people. Let us hope for the best.
Pandemic recession and employment crisisM S Siddiqui
The policy of Bangladesh Bank and attitude of commercial banks have many challenges to overcome regarding these programmes. They require a change in mind-set and political will to recognize the crisis and probable solution. There should a recognition that informal workers and their livelihood activities represent the broad base of the economy producing essential goods and services not only for low-income customers but also for the general public and for the formal economy.
The report covers a couple of questions and strategies regarding COVID-19. These questions are as follows-
1. Suggest strategies to revive the economy post lockdown
2. What type of exit strategies can governments apply?
3. When will it be safe to move out of our houses?
4. How will economic activity restart amidst a shortage of labor and norms of social-distancing?
5. Can we minimize the impact that this pandemic will have on every aspect of our life?
Youth Unemployment and Poverty in Nigeria: Effective Social Protection as a P...ijtsrd
This paper examines the problem of youth unemployment and poverty in Nigeria, with a view of highlighting the need for effective and sustainable social protection strategy in the country. Majority of Nigerians are engulfed in the ocean of poverty. The Nigerian government seem to have shown lighter effort in its contractual obligation to provide socioeconomic security to its citizens. There is drastic collapse of social security, increase in unemployment rate and consequently high rate of poverty. Youth are very important stakeholders in any society; they are regarded not only as useful resources in nation-building but also the backbone of any societal development. The primary objective of this paper is to identify the dual problem of poverty and unemployment especially among the youths as the major disease that crippled the attempt by Nigeria to achieve sustainable development and at the same time ascertain the need for the formulation and implementation of effective and sustainable social protection strategy as a means of tackling the ever increasing rate of unemployment and poverty in Nigeria. The paper recommended that, for Nigeria to tackle unemployment and poverty problem, the priority of the people shall be identified, corruption must be eliminated and informal sectors, such as agriculture, shall be incorporated into the national economic priority, not public sector or oil alone. Muazu Abdullahi Ishaq | Sulaiman Isyaku Muhammad | Aminu Abdullahi | Jamilu Abdulahmid Bello"Youth Unemployment and Poverty in Nigeria: Effective Social Protection as a Panacea" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-1 , December 2017, URL: http://www.ijtsrd.com/papers/ijtsrd5961.pdf http://www.ijtsrd.com/humanities-and-the-arts/sociology/5961/youth-unemployment-and-poverty-in-nigeria--effective-social-protection-as-a-panacea/muazu-abdullahi-ishaq
Pandemic recession and employment crisisM S Siddiqui
The policy of Bangladesh Bank and attitude of commercial banks have many challenges to overcome regarding these programmes. They require a change in mind-set and political will to recognize the crisis and probable solution. There should a recognition that informal workers and their livelihood activities represent the broad base of the economy producing essential goods and services not only for low-income customers but also for the general public and for the formal economy.
The report covers a couple of questions and strategies regarding COVID-19. These questions are as follows-
1. Suggest strategies to revive the economy post lockdown
2. What type of exit strategies can governments apply?
3. When will it be safe to move out of our houses?
4. How will economic activity restart amidst a shortage of labor and norms of social-distancing?
5. Can we minimize the impact that this pandemic will have on every aspect of our life?
Youth Unemployment and Poverty in Nigeria: Effective Social Protection as a P...ijtsrd
This paper examines the problem of youth unemployment and poverty in Nigeria, with a view of highlighting the need for effective and sustainable social protection strategy in the country. Majority of Nigerians are engulfed in the ocean of poverty. The Nigerian government seem to have shown lighter effort in its contractual obligation to provide socioeconomic security to its citizens. There is drastic collapse of social security, increase in unemployment rate and consequently high rate of poverty. Youth are very important stakeholders in any society; they are regarded not only as useful resources in nation-building but also the backbone of any societal development. The primary objective of this paper is to identify the dual problem of poverty and unemployment especially among the youths as the major disease that crippled the attempt by Nigeria to achieve sustainable development and at the same time ascertain the need for the formulation and implementation of effective and sustainable social protection strategy as a means of tackling the ever increasing rate of unemployment and poverty in Nigeria. The paper recommended that, for Nigeria to tackle unemployment and poverty problem, the priority of the people shall be identified, corruption must be eliminated and informal sectors, such as agriculture, shall be incorporated into the national economic priority, not public sector or oil alone. Muazu Abdullahi Ishaq | Sulaiman Isyaku Muhammad | Aminu Abdullahi | Jamilu Abdulahmid Bello"Youth Unemployment and Poverty in Nigeria: Effective Social Protection as a Panacea" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-1 , December 2017, URL: http://www.ijtsrd.com/papers/ijtsrd5961.pdf http://www.ijtsrd.com/humanities-and-the-arts/sociology/5961/youth-unemployment-and-poverty-in-nigeria--effective-social-protection-as-a-panacea/muazu-abdullahi-ishaq
Regional Snapshot: 2019 Federal Opportunity ZonesARCResearch
This month's regional snapshot reviews the Federal Opportunity Zones program - what it is, which communities have received the designation, and how those communities compare to their county and the region as a whole.
Neoliberalism and aggravation of social problems in brazilFernando Alcoforado
The neoliberal economic model implemented in 1990 is largely responsible for worsening Brazil's social problems today. Social devastation has been the main result of the neoliberal economic model in Brazil inaugurated by President Fernando Collor in 1990 and maintained by Presidents Itamar Franco, Fernando Henrique Cardoso, Lula da Silva, Dilma Roussef, Michel Temer and Jair Bolsonaro. The current economic recession, social inequality, mass unemployment and the extreme poverty of the country demonstrate the infeasibility of the neoliberal model implemented in Brazil. The social devastation suffered by Brazil with social inequality, mass unemployment and extreme poverty is demonstrated through indicators of concentration of income, unemployment, social inequality and extreme poverty.
Report on how to contain COVID-19 (in the initial months) (Biswadeep Ghosh Ha...Biswadeep Ghosh Hazra
This report explains and strategizes on ways to control the spread of the virus during its initial period (first and second half of 2020) and outlines several strategies as to how to mitigate the risk of the disease while ensuring industries stay afloat
Different Covid-10 Scenarios for Business Decision-makersAgileTech Vietnam
As an organization responds to COVID-19, resilient leaders should survive the crisis, not thrive. The key to that is to evaluate planning actions within the context of geographic location and different economic scenarios.
Regional Snapshot: 2019 Federal Opportunity ZonesARCResearch
This month's regional snapshot reviews the Federal Opportunity Zones program - what it is, which communities have received the designation, and how those communities compare to their county and the region as a whole.
Neoliberalism and aggravation of social problems in brazilFernando Alcoforado
The neoliberal economic model implemented in 1990 is largely responsible for worsening Brazil's social problems today. Social devastation has been the main result of the neoliberal economic model in Brazil inaugurated by President Fernando Collor in 1990 and maintained by Presidents Itamar Franco, Fernando Henrique Cardoso, Lula da Silva, Dilma Roussef, Michel Temer and Jair Bolsonaro. The current economic recession, social inequality, mass unemployment and the extreme poverty of the country demonstrate the infeasibility of the neoliberal model implemented in Brazil. The social devastation suffered by Brazil with social inequality, mass unemployment and extreme poverty is demonstrated through indicators of concentration of income, unemployment, social inequality and extreme poverty.
Report on how to contain COVID-19 (in the initial months) (Biswadeep Ghosh Ha...Biswadeep Ghosh Hazra
This report explains and strategizes on ways to control the spread of the virus during its initial period (first and second half of 2020) and outlines several strategies as to how to mitigate the risk of the disease while ensuring industries stay afloat
Different Covid-10 Scenarios for Business Decision-makersAgileTech Vietnam
As an organization responds to COVID-19, resilient leaders should survive the crisis, not thrive. The key to that is to evaluate planning actions within the context of geographic location and different economic scenarios.
Post covid ecnomic condition ways to recover from covid-19 pandemic recessionShimanta Easin
Current condition of world economy and Bangladesh in Covid-19 pandemic, Ways to recover from this pandemic destruction, Challenges faced by world and Bangladesh in Covid-19 pandemic
Prepared By:
Roksana Rahim Rumki
Roll: 1610
49th Batch JU
BGE 10th Batch
Jahangirnagar University
Detailed write up on the impact of COVID on various aspects of life. This was published in the Mumbai university Research Journal in the month of June 2020.
As we watch Global ques on Covid-19 affected countries, India stands apart in many ways. God has been kind so far as there have not been many casualties, considering the size and density of population of India.
Lockdown was a necessary step taken by Indian Govt. but it has its long-term economic consequences, which cannot be avoided.
The COVID-19 pandemic has undermined the progress made on sustainable development. It poses a significant challenge to the full implementation of the 2030 Agenda as there has been a rise in extreme poverty, inequalities and injustice across the globe.
The Sustainable Development Goals (SDGs), also known as Global Goals,
are a set of 17 integrated and interrelated goals to end poverty, protect
the planet and ensure that humanity enjoys peace and prosperity by
2030
Graduation from Poverty versus Graduating from Social Protection – setting t...UNDP Policy Centre
The IPC-IG was honoured to participate in the Transfer Project Workshop, held in Arusha, from 2 to 4 April 2019, where researchers and policymakers gathered to discuss evidence for social protection policies in sub-Saharan Africa. IPC-IG Senior Research Coordinator Fábio Veras delivered the presentation "Graduation from Poverty versus Graduating from Social Protection – Setting the Scene and Discussing the Evidence". The Transfer Project is a partnership between UNICEF, FAO, UNC Chapel Hill, national governments and local research partners.
Analysis of the efficiency of public policies in municipalities, with a popul...IJAEMSJORNAL
Pandemics, such as that of COVID-19, affect a large number of people, imposing new rules and social habits on them, aiming to modify the behavior that influences economic and social problems. In this context, the objective of this study was to be investigative, using the DEA tool (data envelopment analysis), seeking the efficiency of proposed and economic measures, seeking to assist them and also public policies in improving planning, trying to avoid problems such as those caused by the current pandemic. This is a cross-sectional and quantitative study, of an exploratory nature, carried out with data from the 10th. Region of the state of São Paulo, based on municipalities with 10,000, or more, inhabitants in the time interval from 05/03/2020 to 05/05/2021. This work is justified by the fact that the COVID-19 pandemic exposes structural weaknesses, economic differences and bottlenecks in the Brazilian health system, especially the lack or uneven distribution, in the territory, of health professionals and health professional, infrastructure, as well as limited production capacity, poor income distribution, the human development index and, still, the glaring differences in the GDP of the municipalities. It has been noted that 53% of the municipalities are deficient and that only 47% of them are above the average ideal efficiency rate of 0.823150. It is concluded, in this work, that the economic and social factors need to be better addressed and that social distance, the use of masks and personal hygiene must be encouraged by the representatives of the public power, in order to avoid a greater number of deaths.
Prepare a research work about the effect of this pandemic to business environment in the country and how does it affect the present economy. Cite a way how the present administration can cope up with this problem. Is there a way how to overcome it?
Tax justice from 100 years old income tax law.pdfM S Siddiqui
Roughly 94 per cent of income-tax revenue comes from tax deducted at source. The Tax deduct as source (TDS) has been imposed at border during release of imported goods and services, supply of goods and services to government and corporates entities. This deduction is on gross sales value but not on net profit. The advances taxes are non-refundable and considered as tax on income. In many cases the tax burden are more than 100 percent of the net income of the business enterprises.
Bangladesh’s cross border transaction in Chinese RMB.pdfM S Siddiqui
Banks are finally allowed to maintain accounts in Chinese currency RMB with their correspondents or overseas branches for cross-border transactions executed in Bangladesh.
Meanwhile, China has introduced cross-border interbank payments system (CIPS) with the RMB as an alternative trading currency. CIPS payment system offers clearing and settlement services for participates in cross-border RMB payment and trade.
Over the last decade the Chinese government has consistently strived to overcome China’s dependence on foreign supplies in the sector, and as a result China’s market share in semiconductors has increased from 5 percent in 2010 to 13 percent in 2020, more than doubling in ten years. China is moving along with the planned schedule to achieve supremacy in manufacturing semi-conductors.
Evaluation of Bangladesh’s Data Protection Bill.pdfM S Siddiqui
The draft Data Security Law did not make difference between data privacy and data security and a big concern was how to maintain the privacy of such data. The problem is that the government has expressed a controlling attitude to make the law a control mechanism rather than data security and data privacy.
Rights of the nominee vis-à-vis legal heirs.docxM S Siddiqui
Currently, the banks may follow the rule of Bangladesh Bank and the principle of the judgment of the High Court Division that the nominee is entitled to the money of the deceased person and pay to the nominee at the first instance to complete their responsibility. Subsequently, the nominee will be treated as a custodian in case of a succession certificate given by the court and distribute the amount accordingly.
Bangladesh bank’s rules of export documents require an amendmentM S Siddiqui
The Factoring services provide security of payment and financing through transfer of shipping documents along with ownership and rights over the payments. The circular no. 32 (dated October 03, 2021) restricting transfer of document will hamper smooth service of Factoring and export financing by trade finance companies. The BB should revisit the circular addressing the embargo over transfer of full set of documents.
Access to finance for the informal sectorM S Siddiqui
Bangladesh may formulate policies to use these sources to in credit reporting systems. There may be even legal framework like some other some economies to allow the sharing of information from non-traditional sources and authorised CRSPs to prepare CR for MSMEs.
Ad free channel ends unfair privileges to overseas manufacturersM S Siddiqui
The Clean Feed Strategy would give a level playing field to Bangladeshi manufacturers and foreign manufactures. Although late the government has taken a bold decision.
How to upgrade bangladesh’s banking almanacM S Siddiqui
The confidence of users is a big challenge for an almanac. The authentication of information is a basic criterion of a good almanac. The authority may take initiative to upload the almanac in their web-site and make easily accessible for the end users specially the FI in other countries.
Bangladesh needs rules on odourised lpgM S Siddiqui
It is impossible to detect the leak because of the lack of odour. This has led different countries to enact new regulations that require gas suppliers to odourise LPG.
The experience of the other countries doesn’t support the fear of NBR officials. This conception of officials is a challenge of introduction of PCA in Bangladesh.
With the ratification of the TFA in 2016, Bangladesh has obligation to introduce PCA in the customs rule. The relevant SRO should be issues as early as possible.
Abrupt indian ban on onion seeds not legalM S Siddiqui
Bangladesh became self-reliant in Cattle production after restriction on cattle export / smuggling during last few years. Let's hope that the statistics of Bangladesh Agricultural Department are correct and Bangladesh will hopefully continue to be self-reliant of onion despite Indian ban on export of onion and onion seed.
Miniket may be branded for marketing by any company but cannot claim this as local variety of rich. It cannot be registered under patent act. The fate of Miniket is depends upon teste and demand of the consumers.
Psi of govt purchase contrary to import policyM S Siddiqui
The inspection by government official is against the Import Policy Order as well as it is expensive for the nation and not serving the real purpose. The inspectors are not liable for any incidence of wrong delivery.
Disappearance of border pillars and death from lightning strikeM S Siddiqui
In south Asia the casualties have been increases in recent years. But apart from climate change, the recent increase of death of lightning has linkage with the silent disappearance of Border pillars of Mouja installed by British rulers in South Asia.
The standard global practice of other countries, the credit information reports neither express any opinion about the borrower creditworthiness nor assign any rating to the borrowers.
Hashem foods fire determining the liability of regulatorsM S Siddiqui
Despite all the irregularities, how industries get fitness certificate from DIFE on yearly basis is a question. Hashem Food started their business in 1982 and DIFE has been certifying it on yearly basis since then.
Regional co-operation under SAARC may be an additional blessing to solve the problem. Bangladesh apparently failed to get mutual co-operation from neighboring countries. Bangladesh may shift the policy on prevention, education and training of all stakeholders to eradicate drugs from our society.
Aila re naya daman folksong belongs to whomM S Siddiqui
Copyright protection is one such important and strong protection guaranteed under intellectual property laws. The expressions of folklore are undoubtedly a product of human genus and intellect and hence deserve adequate protection under the fast-growing system of intellectual property rights laws. The folk song Aila re naya daman is the property of the community, and not of any individual.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Scope Of Macroeconomics introduction and basic theories
Strategy of bangladesh to face coronavirus
1. Published: 10 May 2020
https://dailyasianage.com/news/228973/strategy-of-bangladesh-to-face-coronavirus
Strategy of Bangladesh to face coronavirus
M S Siddiqui
The COVID-19 outbreak has generated furious debates about what measures might best contain
the spread of the disease and limit mortality. As social distancing becomes a universal strategy
to combat COVID-19. This was the primary policy for combating the COVID-19 pandemic
adapted by China and has been widely followed in Europe and North America. The developing
countries has copied the same strategy.
A parallel conversation has emerged about the economic devastation caused by such measures,
especially as the virus reaches low-income countries. According to the forecast released by the
Economist Intelligence Unit on 26 March, the global economy is presume to contract by -2.2% in
2020.
These effects are projected to impact be more on major G20 economies, such as Germany, Italy,
the United Kingdom and the US. All countries that are major markets for Bangladesh's most
exportable readymade garments. The pandemic also poses an economic and humanitarian crisis
in Bangladesh. ADB's preliminary estimates indicate that about 0.2 per cent to 0.4 per cent of
GDP may be lost due to spill over effects of the global COVID-19 pandemic.
The lowest ever prices of oil will also lead to a strong reversal of growth in the Middle East and
North Africa region, which is also home to a large Bangladeshi diaspora, who send back close to
$20 billion every year. Middle East countries already send back 10 lac workers to Bangladesh.
Recently, Bangladesh government has allowed limited scale of economic activities specially the
production at export oriented RMG sector. It attract mixed reaction in the society. The
economists and low-income groups are in favour of opening up the economy but the medical and
other social scientists are critical of the decision. The debate is without any proven example in
favour of their opinion. In this context, a study by Zachary Barnett-Howell and Ahmed Mushfiq
Mobarak at Yale University on Social Distancing Policy in Low-Income Countries published on
April 2, 2020.
2. The researchers combine country-specific economic estimates of the benefits of disease
avoidance with an epidemiological model that projects the spread of COVID-19 to analyse,
whether the benefits of social distancing and suppression varies across rich and poor countries.
The researchers taken into account that following statistical and practical situation now prevailing
in the developed and developing countries. The social distancing interventions and aggressive
suppression are overwhelmingly justified in high-income societies.
They have attempted to quantitatively explore whether similar mitigation and suppression
strategies are equally justified in low and middle income countries. Are the net benefits of
countrywide lock-downs also overwhelmingly positive in poor countries?
The study shows that the COVID 19 skews towed older population and population of developed
countries having more elderly are worse victims. It has been predicted that population level
mortality rates are just below 0.8% in the United States and other OECD economies. Countries
and regions with younger populations, such as Bangladesh and Sub-Saharan Africa, face much
lower risk, with the unmitigated spread of COVID-19 leading to predicted mortality rates of 0.39%
and 0.21%, respectively. This is happening despite the comparatively poor health system
capacity such as hospital beds per capita and medical personals in developing countries.
The social distancing measures are saving a large number of lives in high-income countries, to
the extent that practically any economic cost of distancing is worth bearing. Even then, these
developed countries started opening up their economies activities despite the death toll is around
400 to 700 per day. The LDCs and other developing countries unable to bear the cost of social
distancing and lockdown and much lower estimated benefits of social distancing and social
suppression in low-income countries are driven by three critical factors:
(a) LDCs and Developing countries have smaller proportions of elderly people to save via social
distancing compared to low-fertility rich nations.
(b) Social distancing saves lives in rich countries by flattening the curve of infections, to reduce
pressure on health systems. Delaying infections is not as useful in countries where the limited
number of hospital beds and ventilators are already overwhelmed and not accessible to most.
Flattening the epidemiological curve of COVID-19 to buy time until a vaccine can be develop.
This strategy may not be very useful for poor countries, if the timeline for vaccine development is
too long for social distancing to maintain.
(c) Social distancing lowers disease risk by limiting people's economic opportunities. Poorer
people are naturally less willing to make those economic sacrifices. Poor people place relatively
greater value on their livelihood concerns compared to concerns about contracting coronavirus.
Workers in the informal sector lack the resources and social protections to isolate themselves
from others and sacrifice economic opportunities until the virus passes. By limiting their ability to
earn a living, social distancing can lead to an increase in hunger, deprivation, and related
mortality and morbidity in poor countries.
The COVID-19 mitigation strategies considered in Wale University model is all base on reducing
social contact rates. However, lower contact comes at the cost of reduced economic activity and
lower earnings. Developing countries also have limited capacity to enforce distancing guidelines,
and lock-downs may have counterproductive effects, if it forces informal sector workers and
migrants to reverse-migrate from densely populated urban areas and spread the disease to
remote rural areas of poor countries.
Bangladesh government declared holiday from 25th March and tried to enforce lockdown
throughout the country. A large number of city dwellers rush to ancestor's home in rural area
risking the COVID 19 throughout the country. After few days, government allowed limited scale
production at RMG industries. The garment workers rush to their workplace despite complete
closure of public transport. In the both the journey, commuters did not follow the social distance
3. or rather there is no sufficient public transports and knowledge of possible impact of close
contracts between fellow passengers.
The important out come from the study is that moving from a policy of doing nothing to imposing
social distancing yields a very large welfare improvement in rich countries. The study has noted
that the economic value generated by equally effective social distancing policies is estimated to
be 240 times larger for the United States, or 70 times larger for Germany, compared to the value
created in Pakistan or Nigeria.
The value of benefits estimated for each country translates to a savings of 59% of US GDP, 85%
of German GDP, but only 14% of Bangladesh's GDP or 19% of India's. The epidemiological and
economic benefits of social distancing much smaller in poorer countries, such policies may also
exact a heavy toll on the poorest and most vulnerable.
The social distancing and suppression interventions pioneered in Wuhan, China, and now in
place throughout Europe and parts of the United States, rely on government support systems.
Many workers throughout Europe still receive their salaries, and U.S. taxpayers will receive a
stimulus check.
Beyond the much smaller benefits of COVID-19 mitigation in poorer countries, workers in such
countries are also more vulnerable to the disruption of the economy. They are more likely to rely
on a daily cash wage, their work is hands-on and cannot be done while social distancing.
Workers are also more vulnerable to economic disruption, and may be unable to adhere to
lockdown orders.
The garment workers and many other informal sectors of Bangladesh are not in records of
government. There is no social insurance policy available for them. Government unable to
provide them food and financial supports to these worse suffered people. Rich and poor
countries would naturally evaluate those trade-offs differently, depending on how urgent the
economic needs of their population are. The benefits to social distancing are a lot smaller in
poorer countries.
Furthermore, there is ample evidence that economic costs of distancing - especially the burden
on the poor - are a lot higher. A serious assessment is therefore urgently required to determine
what other measures could effectively preserve lives while minimizing losses in aggregate
welfare.
If widespread social distancing must be pursue, then effective steps must be made to get food,
fuel, and cash into the hands of the people most at risk of hunger and deprivation. This is
especially challenging in countries without well-developed social protection infrastructure. The
government has taken a right decision based on economic benefits and support system to the
needy people. Let us hope for the best.
The writer is a legal economist.
Email: mssiddiqui2035@gmail.com