Global Financial Crisis: Are We Ready?

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The global financial crisis will certainly affect Bangladesh as the country is exposed to global economies, said Prof Mustafizur Rahman, executive director of Centre for Policy Dialogue (CPD).

Bangladesh is an economy worth $84 billion, with $21 billion imports and $14 billion exports. Any event in the global economy will certainly affect the country, said Rahman. He was speaking as the chief guest at a seminar styled "Global Financial Crisis: Are We Ready?" in Dhaka yesterday.

The Centre for Corporate Governance and Financial Studies, a research organisation run by Dhaka University (DU) faculty members, and the students of the Department of Finance of DU organised the seminar at the Business Faculty Auditorium on DU campus.

"The isolation the country presently enjoys from the global crisis will not offer comfort for long,” said Rahman. This is because the country is exposed to international markets, he said.

As a safeguard measure, the country should strengthen its institutions, as several countries, including the US, have undertaken steps to reform their institutions, Rahman told the seminar.

Prof Mahmood Osman Imam, chairman of the finance department, presided over the event.

He said Bangladesh fetched $700 million as foreign direct investment (FDI) last year, which is insignificant in terms of volume. Vietnam attracted $20 billion in FDI during this time, he added.

The global financial crisis is likely to affect remittance earning, Imam warned.

The finance department students presented a keynote paper on the theme of the seminar, while Syed Mahbubur Rahman, deputy managing director of BRAC Bank, also spoke.

Source: The Daily Star, Feb 8, 2009|
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February 8th, 2009, 04:02 AM|   #82|
manbil777 Registered User 
 Join Date: Oct 2004Location: Dhaka | LAPosts: 1,866| Quote: Originally Posted by iftikhar63 Recession to hit Bangladesh CPD executive director tells seminar

He said Bangladesh fetched $700 million as foreign direct investment (FDI) last year, which is insignificant in terms of volume. Vietnam attracted $20 billion in FDI during this time, he added.

Source: The Daily Star, Feb 8, 2009|
Well if the two begums weren't catfighting the whole time we could've attracted 20 billion as well. Let's hope this time around AL follows 'Siratul Mustaquim'.

I know -- hope springs eternal...__________________
“Imagination is the beginning of creation. You imagine what you desire, you will what you imagine and at last you create what you will.” -- George Bernard Shaw|  | |

February 8th, 2009, 07:26 AM|   #83|
iftikhar63 Registered User 
 Join Date: Nov 2008Posts: 119| Aren’t we, as a nation, ill-fated of being captive of the begums! Sounds political… but affects our national economic progress.|  | |
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February 8th, 2009, 08:52 PM|   #86|
TIslam Towhid Islam Join Date: Aug 2007Location: Ann ArborPosts: 6,570| Quote: Originally Posted by amar11372 Thats' an unfair...you are comparing apples and oranges. I am sure if we had one party rule and authority obedient citizens, things would be much different.| I don't see why when comparing empirical data one is supposed to evaluate the type of government/governance of a country.|  | |

February 9th, 2009, 06:19 AM |   #87|
iftikhar63 Registered User 
 Join Date: Nov 2008Posts: 119| Orange and apple both are tasty and good for health. Our (political) farmers are not good enough, as a result, orange has bocome lime and apple has turned to be TOK boroi.|  | |

February 9th, 2009, 01:44 PM|   #88 |
manbil777 Registered User 
 Join Date: Oct 2004Location: Dhaka | LAPosts: 1,866| The largest concentration of Vietnamese in the US is in Garden Grove (little Saigon) which is an hour south of LAX.

I count quite few friends among the Vietnamese and am a fan of their cuisine as well. Being close -- I don't see much of a difference...
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