Foreign exchange reserve crisis. Taka may crush shortly.

[Bilal9]

Yes, there are medical tourists from BD to India but they are only 10% of total visitors from Bangladesh. Also, those 10% Bangladeshi medical tourists make around half of medical tourists in India.

Roughly, before pandemic:
BD total visitors in India = 2.3 million
BD medical tourists in India = 2.3 lakh
Total medical tourists in India = around 5 lakh

In other words, around 2 million tourists visit India for leisure and shopping. Whatever they do/get there, I'm sure, they can do/get the same in BD.

According to this Indian article in 2019,

Bangladesh to open Deputy High Commission in Chennai

CHENNAI: Bangladesh is in the process of establishing a Deputy High Commission in Chennai. This will be its first Deputy High Commission in the south. Banglades

www.newindianexpress.com

----------------------------------------------------------------------------------------------------------
"In 2017, about 2,00,000 medical tourists visited India and contributed significantly to the income of medical tourism,” he said, claiming around 300-400 patients visit Vellore everyday for treatment.
----------------------------------------------------------------------------------------------------------

One of the reasons Bangladesh opened a Deputy High Commission in Chennai (and not in Patna ) is because of the high influx of Bangladeshi patients going to CMC Vellore, that one hospital. Southerners are generally way better educated and far more polite than these Cow Belt Hindutva idiots.

The other reason of course is the high number of Indian IT folks from Chennai and Bangalore who work in Bangladesh.

The reason why Patients go from Bangladesh to places like Vellore/Chennai is not advanced healthcare, of which you find plenty in Bangladesh - and qualified Doctors too. The reason is that Bangladesh healthcare is expensive, far more so than in places like Chennai.

There were numerous daily direct flights introduced direct between Chennai and Dhaka, just for this purpose. US-Bangla Airlines from Bangladesh and Air India, Indigo, Sri Lankan all fly this two hour leg. By now there might be more airline entrants.

To be honest - I don't mind us in Bangladesh helping out educated Southies' economy by employing their folks as employees/experts as the number of Hindutva folks there are much less. Ditto with Sri Lankan folks - I think half of Sri Lanka is actually working in Bangladesh as managers right now. There are Pakistanis in Bangladesh too, especially as I have seen at textile mills. But what gets my goat is the defiant and superior attitude of these bhakts in India who feel like they do us a favor by coming to Bangladesh, and working there.

It is a widely held estimate that India benefits to the tune of $45~$50 Billion yearly from us. Some gratitude would be nice.

 

[epebble]

According to this Indian article in 2019,

Bangladesh to open Deputy High Commission in Chennai

CHENNAI: Bangladesh is in the process of establishing a Deputy High Commission in Chennai. This will be its first Deputy High Commission in the south. Banglades

www.newindianexpress.com

----------------------------------------------------------------------------------------------------------
"In 2017, about 2,00,000 medical tourists visited India and contributed significantly to the income of medical tourism,” he said, claiming around 300-400 patients visit Vellore everyday for treatment.
----------------------------------------------------------------------------------------------------------

One of the reasons Bangladesh opened a Deputy High Commission in Chennai (and not in Patna ) is because of the high influx of Bangladeshi patients going to CMC Vellore, that one hospital. Southerners are generally way better educated and far more polite than these Cow Belt Hindutva idiots.

The other reason of course is the high number of Indian IT folks from Chennai and Bangalore who work in Bangladesh.

The reason why Patients go from Bangladesh to places like Vellore/Chennai is not advanced healthcare, of which you find plenty in Bangladesh - and qualified Doctors too. The reason is that Bangladesh healthcare is expensive, far more so than in places like Chennai.

There were numerous daily direct flights introduced direct between Chennai and Dhaka, just for this purpose. US-Bangla Airlines from Bangladesh and Air India, Indigo, Sri Lankan all fly this two hour leg. By now there might be more airline entrants.

To be honest - I don't mind us in Bangladesh helping out educated Southies' economy by employing their folks as employees/experts as the number of Hindutva folks there are much less. Ditto with Sri Lankan folks - I think half of Sri Lanka is actually working in Bangladesh as managers right now. There are Pakistanis in Bangladesh too, especially as I have seen at textile mills. But what gets my goat is the defiant and superior attitude of these bhakts in India who feel like they do us a favor by coming to Bangladesh, and working there.

It is a widely held estimate that India benefits to the tune of $45~$50 Billion yearly from us. Some gratitude would be nice.

Why does an extremely crowded place like Bangladesh have such a desperate need for all these foreign workers?

 

[Bilal9]

Analysis in English:

How Bangladesh went from an economic miracle to needing IMF help​

How Bangladesh went from an economic miracle to needing IMF help

knpr.org

Timely steps can help avert crisis​

Timely steps can help avert crisis

Bangladesh may fall into deep economic crisis unless it puts in place comprehensive policies and reforms, and starts implementing them immediately, said a number of economists yesterday.

www.thedailystar.net

Wheat consumption in Bangladesh may drop 10pc: USDA​

Wheat consumption in Bangladesh may drop 10pc: USDA

Bangladesh’s overall wheat consumption is likely to drop 10 per cent to 69 lakh tonnes in the marketing year of 2022-23 as high market prices and lower supply of wheat and wheat flour are reducing consumer demand, according to the US Department of Agriculture (USDA).

www.thedailystar.net

BTMA urges govt to discourage yarn import​

BTMA urges govt to discourage yarn import

Entrepreneurs in the textile sector say that this will save local textile mills from huge losses

www.tbsnews.net

Can an IMF loan rescue Bangladesh's economy?​

Can an IMF loan rescue Bangladesh's economy?

Our current economic situation is one in which countries usually look to the IMF for balance of payment support.

www.thedailystar.net

All these steps are PREVENTIVE steps. Yes there is a crisis, like everywhere else in the world right now. But it is tough to say whether Bangladesh situation is any worse than neighbor countries.

Also - wheat consumption is only a fraction of rice consumption in Bangladesh. Most of what Bangladesh eats - is grown locally. Unless there is a bad crop or some disaster.

I have read stories about Indians boiling grass and leaves to eat, and that was way earlier, like five months ago. India's situation is much, much worse. Especially for poor people.

Why does an extremely crowded place like Bangladesh have such a desperate need for all these foreign workers?

Foreign workers do specialized work, like IT stuff building Oracle databases, operate specialized textile machinery or manage newer technology factories.

As Indian labor is cheap and they are a much larger labor pool, that is where most of them are sourced.

Google it.

 

[Valar.]

According to this Indian article in 2019,

Bangladesh to open Deputy High Commission in Chennai

CHENNAI: Bangladesh is in the process of establishing a Deputy High Commission in Chennai. This will be its first Deputy High Commission in the south. Banglades

www.newindianexpress.com

----------------------------------------------------------------------------------------------------------
"In 2017, about 2,00,000 medical tourists visited India and contributed significantly to the income of medical tourism,” he said, claiming around 300-400 patients visit Vellore everyday for treatment.
----------------------------------------------------------------------------------------------------------

One of the reasons Bangladesh opened a Deputy High Commission in Chennai (and not in Patna ) is because of the high influx of Bangladeshi patients going to CMC Vellore, that one hospital. Southerners are generally way better educated and far more polite than these Cow Belt Hindutva idiots.

The other reason of course is the high number of Indian IT folks from Chennai and Bangalore who work in Bangladesh.

The reason why Patients go from Bangladesh to places like Vellore/Chennai is not advanced healthcare, of which you find plenty in Bangladesh - and qualified Doctors too. The reason is that Bangladesh healthcare is expensive, far more so than in places like Chennai.

There were numerous daily direct flights introduced direct between Chennai and Dhaka, just for this purpose. US-Bangla Airlines from Bangladesh and Air India, Indigo, Sri Lankan all fly this two hour leg. By now there might be more airline entrants.

To be honest - I don't mind us in Bangladesh helping out educated Southies' economy by employing their folks as employees/experts as the number of Hindutva folks there are much less. Ditto with Sri Lankan folks - I think half of Sri Lanka is actually working in Bangladesh as managers right now. There are Pakistanis in Bangladesh too, especially as I have seen at textile mills. But what gets my goat is the defiant and superior attitude of these bhakts in India who feel like they do us a favor by coming to Bangladesh, and working there.

It is a widely held estimate that India benefits to the tune of $45~$50 Billion yearly from us. Some gratitude would be nice.

That's all good but what difference does it make whether you go to north India or south? At the end of the day, you are spending money in India. What difference does it make whether you employ good Indians or bad Indians because at the end of the day you are giving money to Indians instead of your own people. In all these instances it's your money getting out of country.

 

[bluesky]

Foreign exchange reserve crisis. Taka may crush shortly.

I hope the value of the Taka will stabilize now after the IMF loan assurance.

 

[bluesky]

I have read stories about Indians boiling grass and leaves to eat, and that was way earlier, like five months ago. India's situation is much, much worse. Especially for poor people.

I am not sure if you are right or if you are just bashing India. However, if it is true, then my pet theory is also true that unless people have jobs they will have no income and a food surplus does not feed them.

So, the important point is to create jobs. In a country like India or BD, it is the govt that should keep on using tax money to create many big or small civil construction jobs throughout the country.

People get employment and they do not eat grass.

Whichever country has done it successfully, has climbed up the ladder to the economic development phase,

 

[mb444]

Taka will depreciate until Fed and US change their fiscal stance. There is nothing BB can do about it.

USD is the primary global reserve currency. People hold it not only for trade but also as savings. When US interest rates are high its bond becomes very attractive. Globally pension funds are buying these up as a hedge. This is what is causing every other currency in the world to loose value against the USD.

IMF loans are there to ensure liquidity so that we can continue to buy our exports. It is not there to shore up the Taka.

BB needs to accelerate the transition to free float of Taka. Let it naturally settle and let the market work.

As necessary offer targeted support like centrally purchasing cotton just like we do for oil.

Accept however hard and unpalatable that BD economy can not be shielded from the impact of a global recession....afterall the Fed has increased the rates to dampen demand and control inflation in USA and is willing to accept recession to do so. Unfortunately the local policies of the worlds biggest economy has ripple effect across the global economy.

BB has gone as far as it can.... it needs to protect the overall integrity of the economy. Let the weak fall (its harsh I know), call in bad debts, sell off public loss making enterprises, stop supporting useless cash wasters such as Biman.

Concentrate on the people, keep buying oil to generate electricity which must flow, food must flow, fertilisers must flow, anything RMG needs must be provided. Everythings else let them fend for themselves.

And immediately stop hundi dead, can be done if there is political will.

Its back to basic.... rice...rmg and remittance.

As ever every crisis has a silver lining.... as our exports becomes cheaper volume will rise. As our imports become more expensive more import substitution will take place. As taka loses value more remittances will come via official channels. Its not all doom and gloom people, but rough year ahead but BD will come out stronger on the other side. We will be bent low but we won't break, our economy and people are resilient and adaptive.

 

[nahtanbob]

Yes, there are medical tourists from BD to India but they are only 10% of total visitors from Bangladesh. Also, those 10% Bangladeshi medical tourists make around half of medical tourists in India.

Roughly, before pandemic:
BD total visitors in India = 2.3 million
BD medical tourists in India = 2.3 lakh
Total medical tourists in India = around 5 lakh

In other words, around 2 million tourists visit India for leisure and shopping. Whatever they do/get there, I'm sure, they can do/get the same in BD.

Why are you blaming the tourists ? people want to see other places. air travel is expensive for people in third world. Myanmar is off limits which leaves India as the only choice. it is not like Bangladeshis visiting India have the money to visit Switzerland or France

 

[Valar.]

Why are you blaming the tourists ? people want to see other places. air travel is expensive for people in third world. Myanmar is off limits which leaves India as the only choice. it is not like Bangladeshis visiting India have the money to visit Switzerland or France

Nathuram Ji, real question here is why is an 'American' guy's butt is hurt over a Pakistani guy's comment about Bangladeshis' visiting India?

 

[bluesky]

Taka may stabilize for a few months if the IMF loan approval is taken positively by the market.

However, I have read that medium and small traders are now unable to open LCs in the banks to import goods.

It means there is a big difference between demand and the availability of dollars. I wonder if a small IMF $1.3 billion loan will change the situation.

Expect little relief from the remittance. Expatriates are sending money via Hundi channels, and export volume is also decreasing.

The garments sector will suffer continuously because fewer raw materials and machines are imported due to the dollar crunch.

I expect the govt to use the IMF money to import cotton and other necessities which are geared to export.

This is how the economy can turn around.

 

[Bilal9]

That's all good but what difference does it make whether you go to north India or south? At the end of the day, you are spending money in India. What difference does it make whether you employ good Indians or bad Indians because at the end of the day you are giving money to Indians instead of your own people. In all these instances it's your money getting out of country.

Yeah right now I'd rather support the better Indians in the South and NOT support the Hindutva idiots in the cow belt states.

Bangladesh is building massive super-specialized medical infra with Chinese and Korean doctors to come in and train locals. Dhaka alone will see about three or four new 500 bed hospitals come up in the next two years, two of which will support super-specialized medical disciplines.

In the interim, low cost care have to be outsourced and given to South India as their stuff is a lot cheaper for Bangladeshi lower middle class to afford.

If there is a Pakistani alternative - that would be very welcome too.

 

[Bilal9]

Nathuram Ji, real question here is why is an 'American' guy's butt is hurt over a Pakistani guy's comment about Bangladeshis' visiting India?

Just take a fishing rod and dangle some pkgs. of cheap Indian biscuits in front of him.

You'll find out his real flag.....

Eight rupees a pack! Irresistible !!

 

[Valar.]

Yeah right now I'd rather support the better Indians in the South and NOT support the Hindutva idiots in the cow belt states.

Bangladesh is building massive super-specialized medical infra with Chinese and Korean doctors to come in and train locals. Dhaka alone will see about three or four new 500 bed hospitals come up in the next two years, two of which will support super-specialized medical disciplines.

In the interim, low cost care have to be outsourced and given to South India as their stuff is a lot cheaper for Bangladeshi lower middle class to afford.

If there is a Pakistani alternative - that would be very welcome too.

My interest or surprise shall I rather say is about leisure tourism and shopping not medical purposes, especially shopping. I mean, I have heard/read multiple times that Bangladeshis spend around a thousand dollars easily to buy just a wedding dress from India along with countless other things. Is it really necessary to spend that much amount when you can simply spend the same in BD? If each tourist out of 2 million tourists spends a thousand dollars, that means 2 million spending 2 billion dollars per year. Ofcourse, judging by crazy shopping spree that Bd's go on means real figure is much much higher. But hey, at the end of the day, it's their money and their choice. It's the same thing, I used to say to Pakistanis who used to go to Dubai for shopping to buy foreign brands. Some still do, unfortunately.

 

[Catalystic]

Isn’t the IMF package of $4.5Billion on very harsh terms??
Will it be able to save BDs economy?
Unable to import fossil fuels and dwindling forex reserves…
Is it being done deliberately to follow SL path??
Hope it never happens but BD needs to be careful

 

[epebble]

very harsh terms?

Do you know the details? Usually the "terms" are market pricing for imported Petroleum products. More public transport and less (petroleum) based private transport.