Covid-19 fallout: 'Bangladesh 9th strongest among 66 emerging economies'
01:27 PM, May 03, 2020 / LAST MODIFIED: 02:31 PM, May 03, 2020

Covid-19 fallout: Bangladesh 9th strongest among 66 emerging economies, says The Economist

The Economist, a leading source of analyses on international business and world affairs, has listed Bangladesh as the 9th 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.

Emerging economies collectively owe $17 trillion of government debt, 24 percent 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 $500million payment on its foreign bonds. If it cannot persuade creditors to swap their securities for less generous ones by May 22, it will be in default for the ninth time in its history, according to the Economist.

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