The labor market, being one of the key macroeconomic variables, has seen an upsurge in terms of wage rates in Bangladesh. This developing country- which is at the boom stage of the trade cycle has seen a rise in wage growth of 6.11 % since December 2021, followed by a rise in GDP per head. On the contrary, the rise in the nominal wage rate has been offset by rising inflationary pressure of 6.5% in the same month, leading to a fall in real purchasing power. Even though wage growth expanded from the industrial sectors, the real wages have barely increased, making it difficult for the low-income group to fulfill their basic needs.

(https://www.thedailystar.net/business/economy/news/rising-inflation-eats-wage-gains-2935256)

The Bangladesh Bank has depreciated the Bangladesh taka against the US dollar, causing the exchange rate to reach Tk 86 per dollar for the first time. It is intended to safeguard exporters' interests, stimulate remittances, and address the challenges posed by a 54 percent increase in import payments in the first five months of the current fiscal year, totaling $31.16 billion. Although exports have recently grown, they are still insufficient to compensate for the foreign exchange market imbalance. Due to the increased rate, inflationary pressures may exacerbate, and if global commodity prices do not decline - the pressure on the rate may worsen.

Bangladesh Bank to weaken taka in phases | The Daily Star

Interbank Exchange Rate: Taka hits 86 against the dollar for first time | undefined (thedailystar.net)

Bangladesh's economy is heavily dependent on the agricultural sector (13% of total GDP), and an allocation of $319.12bn will boost the largest part of the economy, increasing production and employment in the agricultural industry. The poor people will be benefited the most, and considering the pandemic has hit the rural poverty-stricken people with the most impact, such budgeting was becoming a necessity. The budget allocated will go towards research and development of more efficient agricultural methods of production, ICT introduction, increasing women’s contribution, subsidizing the costs of machinery (50-70%), and installation of renewable sources of energy for production. All these together will shift the potential economic growth of the economy and increase aggregate production.

(thefinancialexpress.com.bd)

Iran is set to receive 90 million dollars from the World Bank to fund its pandemic response while being assisted with the installation, distribution, and verification of medical equipment. This unilateral transfer of resources will directly be used to secure the essential medical equipment to mitigate the effects of the pandemic amongst the citizens of Iran- which has already reported a loss of human capital through 132,000 COVID-19-related deaths. Moreover, as the country had become an epicenter for COVID-19 infections, strengthening Iran’s pandemic response is also anticipated to reduce the spread of COVID-19 to its neighboring countries.

WB approves $90m in pandemic aid for Iran (https://www.thedailystar.net/business/organisation-news/news/wb-approves-90m-pandemic-aid-iran-2935241

Bankruptcy looms over Sri Lanka as its financial and humanitarian crisis worsens through the loss of one of its leading tourism industries stemming from the COVID-19 restrictions. Furthermore, high government spending and low state revenues, debt repayments to China, and low foreign exchange reserves were adding factors to the economic crisis. The government’s plans to print money to pay off domestic loans and foreign bonds resulted in record-high levels of inflation. Surging prices of the basic commodities mean adding more people to the 500,000 who are already below the poverty line since the beginning of the pandemic as per the World Bank- overturning 5 years of efforts to reduce poverty.

(https://www.theguardian.com/world/2022/jan/02/covid-crisis-sri-lanka-bankruptcy-poverty-pandemic-food-prices)

Europe, keeping pace with countries around the globe with rising inflation rates, has reached an annual rate of 5% breaking the record for the second time. Soaring-high energy prices of the economy are the core cause. The economy’s natural gas trade with Russia is threatened due to their dwindling stockpiles. The European Central Bank expects both the inflation rate and the soaring energy prices to stabilize as the supply bottlenecks ease as the pandemic neutralizes. Currently, as per some analysts, Europe is facing its inflationary peak with high prices for food and regular commodities making it burdensome for the people to maintain their previous standards of living.

https://www.nytimes.com/2022/01/07/business/european-union-eurozone-inflation.html