1BGDEA2019002 (1).pdf - IMF Country Report No 19\/300 BANGLADESH SELECTED ISSUES September 2019 This Selected Issues paper on Bangladesh was prepared by

1BGDEA2019002 (1).pdf - IMF Country Report No 19/300...

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© 2019 International Monetary Fund IMF Country Report No. 19/300 BANGLADESH SELECTED ISSUES This Selected Issues paper on Bangladesh was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on August 5, 2019. Copies of this report are available to the public from International Monetary Fund Publication Services PO Box 92780 Washington, D.C. 20090 Telephone: (202) 623-7430 Fax: (202) 623-7201 E-mail: [email protected] Web: Price: $18.00 per printed copy International Monetary Fund Washington, D.C. September 2019
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BANGLADESH SELECTED ISSUES Approved By Asia and Pacific Department Prepared by Ragnar Gudmundsson, Racha Moussa, and Muhammad Imam Hussain (all APD) CLIMATE CHANGE MITIGATION AND ADAPTATION IN BANGLADESH: POLICY OPTIONS ______________________________________________________________________________ 2 A. How Does Climate Change Impact Bangladesh? ____________________________________ 2 B. What Has the Government's Response Been Thus Far? ______________________________ 3 C. Forward-Looking Policy Options ____________________________________________________ 5 References ______________________________________________________________________________ 9 EXPORT DIVERSIFICATION IN BANGLADESH ______________________________________ 10 A. The State of Diversification in Bangladesh vis-à-vis Neighbors ____________________ 10 B. Looking Forward __________________________________________________________________ 12 References ____________________________________________________________________________ 16 FIGURES 1. Major Export Partners and Products with Revealed Comparative Advantage Over Time __________________________________________________________________________________ 12 2. The Product Space and Exports in Bangladesh and Vietnam, 2016 ________________ 14 3. Features of the Labor Force in Bangladesh ________________________________________ 15 TABLE 1. Regression Results for Complexity _________________________________________________ 13 CONTENTS August 5, 2019
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BANGLADESH 2 INTERNATIONAL MONETARY FUND CLIMATE CHANGE MITIGATION AND ADAPTATION IN BANGLADESH: POLICY OPTIONS 1 Bangladesh is one of the countries most vulnerable to the impact of natural disasters, and the authorities have taken a series of measures in recent years to adapt to climate change and mitigate its impacts. This chapter summarizes achievements of the authorities to date and describes several options to support their ongoing efforts. A. How Does Climate Change Impact Bangladesh? 1. With sixty percent of its land surface at five meters or less above sea level, Bangladesh is considered especially vulnerable to tropical cyclones, storms and tidal surges. In addition to loss of human lives, the most significant impacts include damages to crops, destruction of road and other infrastructure, and disruptions to industry and commerce. These events disproportionately affect regions with higher concentrations of poor communities. In its 2018 review, the Global Climate Risk Index identifies Bangladesh as the sixth country most affected by climate change- related natural disasters. It estimated that between 1990 and 2008, average annual extreme weather event-related losses amounted to 1.8 percent of GDP. The worst flooding episode in 1998 that affected over two-thirds of the country resulted in damages and losses estimated at close to 5 percent of GDP. More recently, flooding in the northern and central parts of Bangladesh in 2017 affected eight million people and caused severe damage to crops, prompting a sharp rise in food
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