9TH ISSUE
Test A Closer Look at IMF’s Revised Projections (9/12)
The IMF has adjusted its growth outlook for Bangladesh, projecting a lower growth rate of 6 per cent for the fiscal year 2023-24, down from its earlier estimate. This revision follows the World Bank’s recent downward revision of Bangladesh’s Gross Domestic Product (GDP) growth forecast to 5.6 per cent for the same fiscal period, citing sustained high inflation and challenges in external payments.
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Test Calls for Austerity Measures and Collaborative Efforts (9/13)
Bangladesh sees the end of 2023 with a huge deficit in its financial accounts, the widest gap between foreign currency income and expenses in its history. Consequently, the Bangladesh Bank is struggling to arrest the decline in foreign exchange reserves. This has led to a record imbalance in the overall balance of payments. The repercussions of this financial strains have extended to the commoners and made the fiscal year 2023-24 exceptionally challenging. Despite assurance from the Finance Minister in his budget speech that inflation would be contained at 5.6 per cent, average inflation rate was 9.2 per cent, intensifying the economic pressure and exacerbating the burden of soaring commodity prices on the ordinary people.
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Exchange Rate to be determine by ‘Crawling Peg’ method: Governor (9/14 Test )
At the end of the first half of the 2023-24 fiscal, the situation has hardly improved. The dollar crisis remains the same. In fact, the exchange rates have gone up further. As of mid-December, the reserves, calculated according to the International Monetary Fund (IMF) formula for readily available funds, amounted to $19.16 billion. Although total export
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Economy in the Doldrums with Inflationary Pressure, Dollar Crisis (9/15)
Bangladesh sees the end of 2023 with a huge deficit in its financial accounts, the widest gap between foreign currency income and expenses in its history. Consequently, the Bangladesh Bank is struggling to arrest the decline in foreign exchange reserves. This has led to a record imbalance in the overall balance of payments.
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Dream Train in the City of Oysters
Cox’s Bazar Rail Station has been built as a modern marvel for travelers. The new ‘green field’ of railway alignment has connected Cox’s Bazar, the top tourist destination and a rapidly developing region in Bangladesh. Finally, the long-term dream of tourists has been fulfilled. On November 11, 2023, Prime Minister Sheikh Hasina inaugurated the 102-kilometre dual gauge single railway line between Cox’s Bazar and Dohazari in Chattogram and the newly built Cox’s Bazar iconic rail station in the shape of oyster shell. The architect of the station, Mohammad Foyez Ullah, principal architect of Volume Zero Limited, took inspiration from the shape of an oyster for its exterior, which symbolises the beach. It is a station with marine atmosphere at first sight. With this, not only has the country’s leading tourist destination become more easily accessible, the entire southeast region is also poised for boosting trade and connectivity. The rail link project, the latest among several such communication-related projects, is part of an elaborate development scheme focused on Cox’s Bazar. Enhanced connectivity will be crucial for transportation of goods to and from Teknaf land port, as well as the growth of local industries including fish, salt, rubber raw materials, forest and agriculture products and dried fruits, according to local business experts. There are nine railway stations on this route, which means the surrounding areas will also see economic transformation. After Cox’s Bazar to Chattogram the stations are followed by Ramu, Islamabad, Dulahajara, Chakaria, Harbang, Lohagara, Satkania and Dohajari. The rail line will be extended to the Myanmar border, and to the planned deep-sea port on Matarbari Island. The extended part will have three stations – Ukhia, Teknaf and Ghumdhum (Bandarban). Cox’s Bazar Station to enhance tourists’ experience Nestled on a 29-acre expanse in Chanderpara, under the Jhilongjha union in Cox’s Bazar Sadar upazila, stands the paradise sighting station, located three km away from the sandy beach, built at a cost of Tk 215 crore. The six-storied building, covering 187,000 square feet area, captivates visitors with its unique exterior. The canopy serves a dual purpose — not only enhancing the station’s aesthetic appeal but also effectively cooling the building, ensuring proper air circulation, and welcoming ample natural light, according to the project engineers. Adding to the visual allure, a variety of coloured lights grace the front of the building, providing an artistic perspective to the station’s entrance. This station is Asia’s first 100 per cent tourist-friendly central air-conditioned multi-storied station. It has all kinds of facilities for tourists. Arrangements have also been made so that tourists can visit Cox’s Bazar in a day and return the same day without hotel accommodation. This railway is perfect Cox’s Bazar as an international tourist hub. It will be helpful to bring foreign tourists. Not only in the winter, tourists will be encouraged to visit Cox’s Bazar throughout the season including monsoon. In the construction of this iconic station, facilities of various modern stations of the world including China, Belgium, England, and Italy have been taken into consideration. A total of 250 engineers and more than 600 people, including 110 foreigners, were working in the entire project. After four years of hard work, the uniquely beautiful railway station building is visible today. On the ground floor, ticket counters, arrival and VIP lounges, ATM booths, Bank and forex service, pharmacy, post office, railway service office, baby care centre, information booth, and luggage lockers. The first floor offers a departure lounge, waiting lounges, display centres, locker room, prayer space, shops, and a cafe. Levels 2 to 5 house a shopping mall and food court, bookshop, five-star overnight stay option with dining, office spaces, restaurants, a multipurpose hall and hotel with recreational space for passengers. The hotel has 39 rooms. The fourth floor is intended to be leased for offices and conferences. Top floor reserved for future use. Travelers arriving at Cox’s Bazar by overnight train can conveniently store their belongings in lockers and explore the beach and other tourist spots during the day before catching a night train back to Chattogram or Dhaka. Tourists can leave their luggage in station lockers while they enjoy their time sightseeing at the beaches and tourist sites. Around 500 tourists will be able to keep their luggage in the station lockers at a time. As a result, tourists would be able to leave Cox’s Bazar without staying at night in hotel. However, they have to pay locker rent for this. The station is equipped with ample amenities, including escalators, lifts, parking area and refresh rooms for men, women, and those with physical disabilities. Accessing any of the three platforms is made easy with a footover bridge connected to escalators, staircases, and a ramp bridge facilitating movement between platforms. The rail station also features separate facilities for women, children, the elderly people. The Cox’s Bazar station has the capacity to transport around 50,000 people each day, as well as facilitate the operation of wagons for transporting fish, dried fish, salt and other items. Work of the project is being completed in two parts with China Railway Engineering Cooperation (CREC) and Toma Construction carrying out the first part from Dohajari to Chakaria and China Civil Engineering Construction Corporation (CCECC) and Max Infrastructure Limited are doing another part from Chakaria to Cox’s Bazar. Additional Deputy Inspector General of Tourist Police Cox’s Bazar region Apel Mahmud said the arrival of tourists in Cox’s Bazar will increase, thanks to the train service. All kinds of preparations have been made for the service and safety of tourists, he added. Passengers say the journey is enjoyable. A crooked rail line has been built through the green field and forest. Sometimes the hills touch, sometimes the eyes will be drawn to the unique beauty of the green village of Bangladesh. A hundred kilometers of railways has completed to see such a scene. Every station is equipped with relay batteries, generator rooms, sewage and waste management facilities, and energy-saving features such as solar panels. Both meter and broad gauge rail
Read MoreDream Train in the City of Oysters
Cox’s Bazar Rail Station has been built as a modern marvel for travelers The new ‘green field’ of railway alignment has connected Cox’s Bazar, the top tourist destination and a rapidly developing region in Bangladesh. Finally, the long-term dream of tourists has been fulfilled. On November 11, 2023, Prime Minister Sheikh Hasina inaugurated the 102-kilometre dual gauge single railway line between Cox’s Bazar and Dohazari in Chattogram and the newly built Cox’s Bazar iconic rail station in the shape of oyster shell. The architect of the station, Mohammad Foyez Ullah, principal architect of Volume Zero Limited, took inspiration from the shape of an oyster for its exterior, which symbolises the beach. It is a station with marine atmosphere at first sight. With this, not only has the country’s leading tourist destination become more easily accessible, the entire southeast region is also poised for boosting trade and connectivity. The rail link project, the latest among several such communication-related projects, is part of an elaborate development scheme focused on Cox’s Bazar. Enhanced connectivity will be crucial for transportation of goods to and from Teknaf land port, as well as the growth of local industries including fish, salt, rubber raw materials, forest and agriculture products and dried fruits, according to local business experts. There are nine railway stations on this route, which means the surrounding areas will also see economic transformation. After Cox’s Bazar to Chattogram the stations are followed by Ramu, Islamabad, Dulahajara, Chakaria, Harbang, Lohagara, Satkania and Dohajari. The rail line will be extended to the Myanmar border, and to the planned deep-sea port on Matarbari Island. The extended part will have three stations – Ukhia, Teknaf and Ghumdhum (Bandarban). Cox’s Bazar Station to enhance tourists’ experience Nestled on a 29-acre expanse in Chanderpara, under the Jhilongjha union in Cox’s Bazar Sadar upazila, stands the paradise sighting station, located three km away from the sandy beach, built at a cost of Tk 215 crore. The six-storied building, covering 187,000 square feet area, captivates visitors with its unique exterior. The canopy serves a dual purpose — not only enhancing the station’s aesthetic appeal but also effectively cooling the building, ensuring proper air circulation, and welcoming ample natural light, according to the project engineers. Adding to the visual allure, a variety of coloured lights grace the front of the building, providing an artistic perspective to the station’s entrance. This station is Asia’s first 100 per cent tourist-friendly central air-conditioned multi-storied station. It has all kinds of facilities for tourists. Arrangements have also been made so that tourists can visit Cox’s Bazar in a day and return the same day without hotel accommodation. This railway is perfect Cox’s Bazar as an international tourist hub. It will be helpful to bring foreign tourists. Not only in the winter, tourists will be encouraged to visit Cox’s Bazar throughout the season including monsoon. In the construction of this iconic station, facilities of various modern stations of the world including China, Belgium, England, and Italy have been taken into consideration. A total of 250 engineers and more than 600 people, including 110 foreigners, were working in the entire project. After four years of hard work, the uniquely beautiful railway station building is visible today. On the ground floor, ticket counters, arrival and VIP lounges, ATM booths, Bank and forex service, pharmacy, post office, railway service office, baby care centre, information booth, and luggage lockers. The first floor offers a departure lounge, waiting lounges, display centres, locker room, prayer space, shops, and a cafe. Levels 2 to 5 house a shopping mall and food court, bookshop, five-star overnight stay option with dining, office spaces, restaurants, a multipurpose hall and hotel with recreational space for passengers. The hotel has 39 rooms. The fourth floor is intended to be leased for offices and conferences. Top floor reserved for future use. Travelers arriving at Cox’s Bazar by overnight train can conveniently store their belongings in lockers and explore the beach and other tourist spots during the day before catching a night train back to Chattogram or Dhaka. Tourists can leave their luggage in station lockers while they enjoy their time sightseeing at the beaches and tourist sites. Around 500 tourists will be able to keep their luggage in the station lockers at a time. As a result, tourists would be able to leave Cox’s Bazar without staying at night in hotel. However, they have to pay locker rent for this. The station is equipped with ample amenities, including escalators, lifts, parking area and refresh rooms for men, women, and those with physical disabilities. Accessing any of the three platforms is made easy with a footover bridge connected to escalators, staircases, and a ramp bridge facilitating movement between platforms. The rail station also features separate facilities for women, children, the elderly people. The Cox’s Bazar station has the capacity to transport around 50,000 people each day, as well as facilitate the operation of wagons for transporting fish, dried fish, salt and other items. Work of the project is being completed in two parts with China Railway Engineering Cooperation (CREC) and Toma Construction carrying out the first part from Dohajari to Chakaria and China Civil Engineering Construction Corporation (CCECC) and Max Infrastructure Limited are doing another part from Chakaria to Cox’s Bazar. Additional Deputy Inspector General of Tourist Police Cox’s Bazar region Apel Mahmud said the arrival of tourists in Cox’s Bazar will increase, thanks to the train service. All kinds of preparations have been made for the service and safety of tourists, he added. Passengers say the journey is enjoyable. A crooked rail line has been built through the green field and forest. Sometimes the hills touch, sometimes the eyes will be drawn to the unique beauty of the green village of Bangladesh. A hundred kilometers of railways has completed to see such a scene. Every station is equipped with relay batteries, generator rooms, sewage and waste management facilities, and energy-saving features such as solar panels. Both meter and broad gauge rail
Read MoreDEMO POST for 9th issue final
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