{"id":5339,"date":"2024-11-21T15:11:40","date_gmt":"2024-11-21T14:11:40","guid":{"rendered":"https:\/\/www.rivistaeco.com\/?p=5339"},"modified":"2024-11-21T15:12:01","modified_gmt":"2024-11-21T14:12:01","slug":"around-the-world-6","status":"publish","type":"post","link":"https:\/\/www.rivistaeco.com\/en\/2024\/11\/21\/around-the-world-6\/","title":{"rendered":"Around the World"},"content":{"rendered":"

News from afar. Whilst these countries may seem distant, events there are crucial to understanding the direction of the world at large.\u00a0<\/span><\/i><\/p>\n

Bangladesh Turns to Yunus<\/b><\/h3>\n

Muhammad Yunus, professor of economics and Nobel Peace Prize winner in 2006, has been called upon to address the crisis engulfing Bangladesh. This situation culminated in the resignation and flight of Prime Minister Sheikh Hasina, who had led a regime plagued by deep corruption. Recently, the country has been shaken by uncertainty, violence, and unrest, with a revolt led by the younger generation. The trigger? A controversial quota system for government jobs. The economic impact has been severe, particularly on the garment industry, a key contributor to Bangladesh\u2019s balance of payments. The Bangladesh Chamber of Commerce and Industry estimates that the unrest has caused economic damage amounting to as much as 10 billion dollars. The immediate challenge now is finding the resources to fund essential services, such as electricity. As a result, the new central bank governor is prepared to request an additional 3 billion dollars in aid from the International Monetary Fund, following the 47 billion dollars the country secured last year.<\/span><\/p>\n

Venezuela in Chaos<\/b><\/h3>\n

“It’s time for a free Venezuela” reads the placards carried by protesters in the streets, as they rally against the government of Nicolas Maduro. Clashes between demonstrators and the police have become a daily occurrence this summer. The root cause is the contested (re)election, claimed by Maduro, but widely disputed by the opposition and the international community. The severe economic crisis\u00a0 has driven so many to the streets and strangled the already struggling lower and middle classes. Nearly 8 million Venezuelans have emigrated as a result. Maduro\u2019s record is reflected in the numbers: the country’s gross domestic product has shrunk by over 73% since 2013, according to the Institute of Advanced Administrative Studies in Caracas. This marks the most significant economic collapse in Venezuela\u2019s history.<\/span><\/p>\n

Ethiopia\u2019s Currency Now Trades on the Market<\/b><\/h3>\n

The Ethiopian government has introduced measures aimed at bringing stability and transparency to its economy. Following the approval of an IMF aid programme, the administration announced a major shift in the country\u2019s exchange rate policy. The Ethiopian Birr, previously pegged at a government-set rate, is now traded based on market dynamics. Initially, this change led to a sharp devaluation of the Birr, but trading volumes have since increased, driven in part by the formalisation of markets for goods like fuel, medicines, and fertilisers, which had previously been traded on the parallel market. In the coming months, the launch of the Ethiopian stock exchange is expected, a move anticipated to boost liquidity, attract capital, and spur economic growth.<\/span><\/p>\n

Malaysia: The Advantage of Being a \u201cHub\u201d Country<\/b><\/h3>\n

Malaysia\u2019s growth prospects for this year are looking up, driven by strong foreign demand that is boosting exports. According to the country\u2019s central bank, this outcome is also aided by slowing inflation. Data released by Malaysia\u2019s Ministry of Economy shows that in 2023, the country\u2019s GDP grew by 3.7%, falling short of government expectations due to the global economic slowdown, geopolitical tensions, and more restrictive monetary policies. However, Malaysia benefits from its position as a “hub” country, particularly as tensions between Washington and Beijing push companies to diversify their operations. Malaysia has become a key destination for data centres and semiconductor companies. The country\u2019s expertise in chip assembly, testing, and packaging has made it an attractive location for companies like Intel and GlobalFoundries. Even tech giants like Google and Microsoft are investing billions in the country, particularly in relation to cloud computing and artificial intelligence.<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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Whilst these countries may seem distant, events there are crucial to understanding the direction of the world at large.\u00a0 Bangladesh Turns to […]<\/p>\n","protected":false},"author":5734,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"coauthors":[24],"class_list":["post-5339","post","type-post","status-publish","format-standard","hentry","category-non-categorizzato"],"acf":[],"yoast_head":"\nAround the World - Rivista Eco<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rivistaeco.com\/en\/2024\/11\/21\/around-the-world-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Around the World - Rivista Eco\" \/>\n<meta property=\"og:description\" content=\"News from afar. 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