Hey everyone I hope you all are fine and doing great. Today I'm going to discuss about the Bangladesh and Their gold reserves and how gold reserves are playing their role in their economy. Just to increase your knowledge Bangladesh once was the part of Pakistan but due to some conflict and 1971 war, they separated their ways and become a separate nation.
It is a country Present in South Asia and very famous for it's Stunning Natural Beauty and Rich Cultural Heritage. It is one of the highly populated country in the world and at the moment it ranked 8th in world population with the population of 165 million people. Though the country is small but it has a lot of economic potential. It's economy is growing at a rapid pace with an average rate of 6% Per annum.
The main reason for their rapid growth is it's gold reserves. As we all know Gold is a valuable commodity and it is used widely in the global market and the countries with huge gold reserves have a big benefit in terms of their financial security and economic stability.
World Gold Council conducted a research on Bangladesh gold reserves and found out that, it has a Gold reserve of approximately 14.2 tones. 14.2 tones is not big when we compared it with other big countries, but it is noted that, Bangladesh is a developing country with a relatively Low GDP/capita when compared with these big countries, so, it is understandable that it's Gold reserves are not much as of other countries.
But Bangladesh is trying their level best to increase their Gold reserves in the last few years and you will be surprised to know that Bangladesh's Central Bank Purchased 3.5 tones of Gold from the international monetary fund ( IMF ) and collectively make their gold reserve to reach 14.2 tones. This move was seen as a positive step towards increasing the country's economic stability and reducing its reliance on foreign currencies.
Bangladesh is a neighbor Country to India and china, with the Gold reserves of over 618 tones and 1948 respectively. Along with the increase in Gold reserves, Bangladesh is heavily investing in projects such as construction of new roads, airports and bridges, All these collectively will boost Bangladesh economy and will create new jobs for the citizens.
IF we see the history of Bangladesh, they was very famous for their textiles and garments industry, but now the government is trying their level best to invest in industries like information technology, medicine and renewable energy as the world is changing.
Don't take this post as a financial advice, It's just an informational post. DYOR before investing
Posted Using LeoFinance Beta