The Asian Development Bank (ADB) has outlined 20 conditions for Bangladesh to access $600 million in the second tranche of a loan for the implementation of its “Strengthening Economic Management and Governance Program”.
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.
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.
The flow of remittance to Bangladesh has been shrinking for the last several months as the number of people going abroad in search of jobs is declining and money transfers through informal channels like hundi have made a comeback with the ease of pandemic restrictions.
The inflow of remittance has been shrinking since the last several months as the number of people, going abroad, is decreasing and money transfers through informal channels like hundi are increasing with the ease of pandemic restrictions.
Farmers in Bangladesh sell most of their crops to meet their financial needs after keeping a small portion for the consumption of their families, according to a new survey of the Bangladesh Bureau of Statistics (BBS).
About 39.47 lakh establishments engaged in wholesale and retail trade, including motorcycle repair shops, contribute around 14 per cent to the country’s gross domestic product (GDP), according to a survey of the Bangladesh Bureau of Statistics (BBS).
Although fast-track projects had previously witnessed slow implementation for various reasons including the pandemic, they are now progressing gradually, according to a report.
Although the government has set an ambitious target to export one lakh tonnes of mango annually within the next three to five years, no meaningful measures have been taken as of yet to achieve this lofty goal.
The government yesterday banned the exports of soybean meal in order to rein in the spiralling prices of the key ingredients of poultry and cattle feed and protect consumers from paying more for animal protein.
For Razia Sultana, a 50-year-old widow with three children to look after and a Tk 22,000 of fixed monthly income, every paisa counts.
The World Bank in a report noted a gradual recovery in employment and earnings in Bangladesh, forecasting that the country’s poverty rate will come down to pre-pandemic levels in the current fiscal year.
