September 8, 2020 | less than a minute read

Positive growth despite a global recession in Bangladesh

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Rafiqul Islam

Senior Marketing Manager

Get in touch

Rafiqul Islam

Senior Marketing Manager

Bangladesh might be one of only two ASEAN and South Asian economies to register positive growth in 2020 despite a global recession that is shaping up to be historic in scale, according to Standard Chartered Bank’s research team.

But the government alone cannot carry out the fight against COVID19 where action required from the public, private and international level.

As economies reopen, businesses and consumers need to adhere to standard operating procedures to ensure the sustainability of the recovery and minimise the risk of recurrence of infections. "I think you don't want an economic recovery that starts and stops and starts and stops, which makes it very difficult for businesses to plan for investment," Lee added. The exchange rate of the taka against the US dollar will remain stable for the rest of the year, said Divya Devesh, head of ASA FX Research at Standard Chartered. "The external balance situation is quite supportive. The balance of payment is likely to be in surplus. The record foreign currency reserve suggests that the central bank has ample dollars to tide over any difficulties." On most metrics, Bangladesh scores very highly on reserves adequacy, Devesh added.

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