The Bangladesh Bank (BB) is unlikely to reduce the policy or repo rate for the second half of this year as inflation continues to remain stubbornly high, according to the central bank governor.
Record remittances lift reserves, but economy burdened by sluggish tax, bad loans, high joblessness
Government borrowing from domestic banks and non-bank sources rose 55 percent year-on-year during the July-April period of the fiscal year (FY) 2024-25, due mainly to weaker foreign loan disbursements and poor tax collection.
Bangladesh’s expenditure on poverty reduction has been gradually declining, and in the upcoming fiscal year of 2025-26, it is set to hit a four-year low due to a decrease in spending that directly impacts hunger.
The government plans to amend the existing sovereign guarantee guidelines to streamline the process and mitigate fiscal risks if public entities fail to make repayments on time, according to a finance ministry report.
If you visit the Dhaka Medical College and Hospital (DMCH), you will find it difficult to make your way through the crowded corridors between the wards. Patients lie on narrow, makeshift beds along both sides, while doctors, hospital staff, visitors, and treatment seekers shuffle through the chaos.
Bangladesh has continued to showcase a weak performance in the open budget rankings among its South Asian peers, reflecting a lack of transparency and accountability in the formulation and implementation of fiscal measures.
Banks have registered sluggish growth in deposits throughout the current fiscal year as elevated inflation and an economic slowdown have squeezed the scope for many to save, even though the interest rate has risen.
The commission writes a letter to the NBR
Bangladesh is registering a slow spike in the cultivation of onions during summer with the government patronising the expansion to reduce high import dependence during the lean season from October to November.
Nearly a fifth of conventional banks in Bangladesh are preparing to establish digital banks to expand their reach to every nook and cranny of the country, win and retain tech-savvy customers without physical presence.
NRB Bank is planning and working to onboard digital banking facilities as well as introduce neo-banking services for its customers, according to the top official of the private bank.
After 16 percent below normal rainfall in June, Bangladesh saw a drier July as it registered 50.8 percent below normal rain, which forced many farmers to irrigate their fields to cultivate Aman paddy, the second largest rice crop.
Bangladesh’s export to China fell to its three-year low of $677 million in the last fiscal year as entrepreneurs could not take advantage of the duty benefits extended by Beijing.
Public food stocks in Bangladesh rocketed to an 18-month high in July thanks to higher procurement, imports of grains and reduced distribution, official figures showed.
Banks are systemically important institutions and corporate governance is vital for them to navigate difficult times and convince depositors to keep money with them.
Extreme heat has gripped many parts of the world as June saw the warmest global average temperature on record and the trend continued into July, according to the UN’s World Meteorological Organisation (WMO).
Internet banking transactions reached a record high amount of nearly Tk 50,000 crore in May, signifying the enhanced cost and time savings and convenience enabled over visits to brick-and-mortar branches for a growing number of bank account holders.
