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.
For two months of rainy season every year, life comes to a standstill for thousands of people living in the Dhaka-Narayanganj-Demra dam area due to waterlogging. People here either remain confined to their homes –or are forced to leave their homes temporarily to stay at their relatives’ homes far away where life is normal.
It has been raining in Dhaka since Saturday. Sometimes rains came down heavier after slight relapses. But had it come a little earlier today, many of a Merul Badda slum might not lost their belongings in a devastating fire.
It is high time to go beyond the textbooks and throw off the bowlines to make the Eid holidays more exciting and memorable. So step out in the open, follow the sun to the greens and silver sand beaches, and catch the winds in the sails to explore, dream and discover. Bangladesh is blessed with many wonderful places attracting people to see its beauty. Here are the five most magnificent natural and archaeological beauties to visit:
Why do pedestrians jaywalk across the road when there is a foot-over bridge nearby? The Daily Star has caught random jaywalkers and got surprising answers. Many of them think that it actually saves time!
Bhashantek slum residents are being deprived of the facilities as well as their fundamental rights, despite paying five times higher than the other Dhaka city dwellers pay for getting minimum facilities of sanitation and waste management.
