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05
September

 

 

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Bangladesh Prime Minister Sheikh Hasina has said her country will not face a situation like the economic crisis in Sri Lanka although her government has sought loans from global agencies amid a fall in its reserves and surging import costs. 

In an interview with Reuters partner ANI, aired ahead of her visit to India on Monday, Hasina said that Bangladesh's economy remained strong despite the impact of COVID-19 and the Russia-Ukraine war.

Bangladesh's $416 billion economy has been one of the fastest-growing in the world for years but dwindling foreign exchange reserves due to inflated import bills have prompted the government to seek loans from global agencies, including the International Monetary Fund (IMF).

"Bangladesh has always timely (in paying) our debt; our debt rate is very low in the context of Sri Lanka," Hasina said. "Some people have raised this issue that Bangladesh will be Sri Lanka, but I can ensure that that will not happen."

Sri Lanka reached a preliminary agreement with the IMF on Thursday for a loan of about $2.9 billion, after the country plunged into a crisis due to economic mismanagement and the COVID-19 pandemic wiped out its key tourism industry.

During her four-day visit to India, Hasina will meet her Indian counterpart and other leaders. (Reuters)

 

 

05
September

 

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Former Malaysian Prime Minister Najib Razak has applied for a royal pardon, the speaker of parliament said on Monday, less than two weeks after he was sent to jail for 12 years for corruption.

Malaysia's top court on Aug. 23 had rejected an appeal by Najib, 69, to set aside his conviction on graft and money laundering charges in a case linked to a multibillion-dollar scandal at state fund 1Malaysia Development Berhad (1MDB). 

Najib, who has also been fined nearly $50 million, has consistently denied wrongdoing.

According to Malaysia's constitution, any lawmaker sentenced to more than a year in prison will automatically lose their seat in parliament, unless they apply for a pardon from the monarch within 14 days.

Parliament Speaker Azhar Azizan Harun said on Monday Najib will remain a legislator until his petition for a pardon, filed on Friday, was decided on.

Najib would lose his seat "only if the petition was rejected" Azhar said in a statement.

A lawyer for Najib confirmed the petition had been filed but declined to provide further details.

The petition is expected to be reviewed by a pardons board headed by the king, which could also consider advice from the the prime minister.

A son of Malay nobility, Najib is believed to be close to some of Malaysia's sultans - the country's traditional rulers who take turns to be the monarch in a unique rotational system.

A full pardon would allow him to return to active politics and even make a comeback as premier, as some of his supporters have called for.

Najib however still faces four other cases, all of which carry jail terms and heavy financial penalties.

Najib was hospitalised on Sunday but local media said he was back in court on Monday.

He was stable and undergoing routine medical checks, his aide told Reuters on Sunday, without elaborating on why he was admitted. (Reuters)

05
September

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Taiwan will resume visa free entry for visitors from countries including the United States and Canada from next week, the government said on Monday, as it continues to ease controls put in place to contain the spread of COVID-19.

Taiwan had kept its entry and quarantine rules in place as large parts of the rest of Asia have relaxed or lifted them completely, though in June it cut the number of days spent in isolation for arrivals to three from seven previously.

Taiwan has reported more than 5.3 million domestic cases since the beginning of the year, driven by the more infectious Omicron variant. But with more than 99% of those exhibiting no or mild symptoms, the government has relaxed rather than tightened restrictions in what it calls the "new Taiwan model".

Taiwan's Central Epidemic Command Centre said the resumption of visa free entry for visitors from the United States, Canada, New Zealand, Australia, Europe and diplomatic allies would start from next Monday.

The decision was made based on the fact that most countries around the world have already reopened their borders and resumed pre-pandemic border measures and the need to balance epidemic prevention, economic and social activities and international exchanges.

Command centre chief Victor Wang told reporters the three days of quarantine and need for a PCR test upon arrival would remain for the time being, as well as the current cap on 50,000 arrivals a week.

Taiwan, which has a well vaccinated population, has already ended the requirement for pre-departure negative PCR tests.

Throughout the pandemic Taiwanese citizens and foreign residents have never been prohibited from leaving and then re-entering, though have had to quarantine either at home or in hotels.

Before the pandemic, Taiwan was a popular tourist destination for mainly Asian visitors, with Japan, South Korea and Southeast Asia the most important markets. (Reuters)

05
September

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Coordinating Minister for Economic Affairs Airlangga Hartarto said that representatives of developing countries' voices in the G20 must be fair. Especially for countries in the southern hemisphere.

These include Australia, Uruguay, Timor Leste, South Africa, and Chile. Then there are Brazil, Madagascar, Zimbabwe and Argentina.

"Increasing the representation of the southern voice is very important," Airlangga told reporters on Monday (5/9/2022). According to the Coordinating Minister, this is so that the global narrative that is being formed is considered fair and acceptable to all world governments.

Furthermore, Airlangga revealed that global issues such as the Covid-19 pandemic, climate change, and digital transformation require collective handling. Of course with the commitment of the government of all countries and stakeholders.

This was revealed by the Coordinating Minister for the Economy at the T20 Summit in Nusa Dua, Bali, Monday (5/9). T20 is a group of researchers and academics who will recommend solutions that will be utilized at the G20 Summit later.

As a group involved in Indonesia's G20 Presidency, T20 is in a strategic position. They play a very important role in ensuring the independence of each country's government and the implementation of inclusive policies.

"T20 or Think 20 as an idea and research bank can provide valuable insights," said Airlangga. Especially about the agenda that global leaders should focus on.

According to him, the T20 has an important position to ensure the issues that the G20 leaders want to resolve. It also serves as an anchor to ensure an inclusive discussion of priority issues.

The establishment of the T20 allows critical issues to be discussed not only concerning the host country. But also other countries including G20 members.

"Inclusivity is even more important because the COVID-19 pandemic has created widening inequality across the country," said Airlangga. Thus, the existence of T20 will ensure the agenda and formulation of the solution for developed and developing countries equally. (RRI)