The central bank governor projects cooling the red-hot inflation, which has hovered above 9 percent since March last year, to 7 percent by June next year.
The Asian Development Bank (ADB) has become the first among multilateral and bilateral lenders to respond to the interim government's call for budgetary support, approving $600 million aimed at easing pressure on foreign exchange reserves and accelerating economic recovery.
Bangladesh’s national budget for fiscal year 2024-25 is likely to be reduced by more than Tk 50,000 crore, with the entire cut expected to be made in funds meant for the annual development programme (ADP).
Bangladesh, mired in data fog, has “sleepwalked” into the middle-income trap according to the white paper on the state of the country’s economy.
Distressed assets in the banking sector have reached a whooping Tk 6,75,030 crore, an amount bigger than the cost of building 22 bridges across the Padma or 13.5 metro rail systems in Dhaka, according to a White Paper released yesterday.
Despite rising interest rates on deposits and various efforts by the central bank, Bangladesh’s banking sector continues to face a liquidity crisis that has hamstrung some lenders.
Moody’s has downgraded Bangladesh’s banking sector to “very weak” from “weak”, citing worsening client confidence, limited transparency and inadequate financial safeguards over the past year.
When most non-bank financial institutions (NBFIs) in Bangladesh are in hot water with high ratios of non-performing loan (NPL), a handful have been successfully able to keep the rate low.
The government is going to introduce smart cards for farmers with an aim to provide area-based and demand-based agricultural services.
Rice prices have remained high in Bangladesh despite ample supply of the grain as farmers harvest the second biggest Aman crop, giving low-income groups a hard time amid persisting economic uncertainty.
The retail price of onion has gone up to Tk 80 per kg in city kitchen markets, putting the low and middle income people, already reeling from Covid-19 fallout, under more financial pressure.
Not even a month has gone by yet edible oil refiners are again proposing hiking prices for the fourth time this year, reasoning it to be a ripple effect of international rates.
In line with the spiralling cost of other daily essentials, the retail price of potato rose sharply by 39 per cent.
Though the strike involving public transport was withdrawn on Sunday evening, the owners and workers of vehicles engaged in transporting goods continued to enforce their countrywide protest as of yesterday evening, taking a toll on export, import and trade.
Losses piled up for local traders and exporters yesterday as goods could not move owing to the countrywide transport strike.
Prices of many daily essentials, especially vegetables, have shot up further in the kitchen markets after transport workers enforced a strike and increased their fees in carrying goods to protest the recent fuel price hike.
Bangladesh’s exports hit a historic high of $4.73 billion in October with a 60.37 per cent year-on-year increase riding on the stunning rebound of readymade and non-readymade garment shipment.
Bangladesh’s exports hit a historic high of $4.73 billion in October with a 60.37 per cent year-on-year increase riding on the stunning rebound of readymade and non-readymade garment shipment.
