‘Bangladesh not in crisis’: IMF support package talks likely to begin in October
The first staff mission is expected to take place after the 2022 annual meetings of the IMF and the World Bank Group.
ECONOMIC AFFAIRS
Bangladesh to draw up plans to buy Russian oil
Bangladesh currently buys fuel from Middle Eastern countries including Saudi Arabia and the UAE, and from companies in those countries.
Pandemic pushes 2.3 million Filipinos into poverty
Despite recent employment gains due to the reopening of more economic sectors, the Philippines’ latest jobless rate in June was still the second-worst in emerging Asia.
Philippine poverty incidence rises to 18.1% in 2021; close to 20 million Filipinos considered poor
In general, ten regions recorded higher poverty incidence among the population in 2021 when compared to data recorded in 2018.
Sugar crisis may trigger price hikes of processed food, beverages
Over the weekend, President Ferdinand Marcos Jr. said he might consider importing as much as 150,000 metric tons of sugar in October.
China’s unemployment rate falls, still high in young groups
A National Bureau of Statistics spokesman said that a total of 7.83 million new urban jobs were created in Jan-July 2022.
Rice prices go up again in Bangladesh
Food Minister Sadhan Chandra Majumder said his ministry will start selling rice at a cheaper rate for poor families through a food friendly programme from Sept 1.
Indonesia aims to combat food inflation with GMO, experts and farmers skeptical
Indonesia, like most emerging economies, is not immune to the impact of surging food prices induced by the current supply disruption.
Weak peso, stock market hit Filipino billionaires’ net worths hard
Filipino billionaires lost a combined $7 billion over the last year as their fortunes were pummeled by the plunging value of the peso against the US dollar.
South Korea to expand food supply to tame prices ahead of Chuseok
The government has set the goal of pulling down the prices of the 20 items, such as apples and pork, to approach the levels a year earlier, said the ministry.