Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
Bangladesh on Sunday announced a stimulus package of 727 billion taka ($8 billion) to help cushion the economic blow from the COVID-19 pandemic.
Prime Minister Sheikh Hasina made the announcement of the support package in a televised speech in capital Dhaka, according to the media report.
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The Prime Minister also mentioned in her speech that COVID-19 escalation could cut the country’s economic growth.
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To better manage the impact caused by the COVID-19, she said the government will extend such funds in future.
Earlier this week, Hasina signalled that the shutdown of offices and workplaces due to the deadly virus may be extended to April 9.
Last week, Bangladesh announced a stimulus package of 50 billion taka ($5.9 million) to help export-oriented industries to counter the economic impact of the coronavirus pandemic at home and abroad.
Following the rise of COVID-19 cases in the country, the Bangladeshi government declared a public holiday from March 26 to April 4 except for entities providing essential services.
Bangladesh on Saturday extended the ongoing shutdown of public transport to April 11 to manage the spread of the virus.
Bangladesh had earlier declared a 10-day public transport shutdown effective from March 26 to April 4.
The country has reported a total of 70 coronavirus cases, with nine deaths.
Global deaths from the COVID-19 pandemic have soared past 60,000, with Europe continuing to bear the brunt of the virus which has left roughly half the planet confined at home.
There are now more than 1.2 million confirmed cases across the globe, and around 65,000 people have died since the virus first emerged in China late last year, according to a Johns Hopkins University tally.
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