Bangladesh has decided not to make fresh recruitment against the 10 per cent vacant posts in government sector to curtail public spending in view of the global recession.
"The government takes the decision on jobs cut prompted by the logic of saving the public resources," Finance Minister AMA Muhith said at a function yesterday, a day after a government circular disclosed the plan.
At least three countries including Bangladesh in South Asia are vulnerable to the second round effects of the global economic slowdown, the World Bank (WB) has said.
The countries -Bangladesh, Nepal, and Bhutan - have been mostly insulated from the first round effects of the financial crisis owing partly to sound macroeconomic management and the underdeveloped nature of the financial markets that are not exposed to international markets.
Hot on the heels of an article that argued that state regulation of India's financial sector stopped a similar bubble from being created in India as was created in the U.S. (though I still say the jury's out), we have yet more word from NYT that neoliberalism-as-an-actually-existing-system is not exactly a magical land of privatization fairies and anti-corruption dust sprinkled upon the ordinary investor, let alone the median-income (poor) Indian: