The Asian Development Bank plans to provide $1 billion in budget support to advance Bangladesh’s banking sector reforms, contingent on 25 conditions including the creation of a financial stability fund for banks facing capital shortfalls.
The government has pledged a series of sweeping reforms to meet International Monetary Fund conditions for the next instalment of its $5.5 billion loan, including a public survey to measure corruption in tax administration and a phased reduction of subsidies on electricity, fertiliser, remittances and exports.
Bangladesh’s gross domestic product is projected to surpass the $500 billion mark for the first time in the upcoming fiscal year contingent upon exchange rate stability.
Standoff over Ishraque Hossain’s mayoral post halts civic services in half of Dhaka
The interim government is likely to introduce a transparent system for social safety net schemes in the upcoming budget, increasing the number of beneficiaries by around 10 lakh while slashing one-third of the existing programmes.
“Who will pick up the duck’s photo?” The moment Rafia Sonamoni posed the question to a group of 26 children, four eager hands shot up, accompanied by excited shouts of, “I will!”
The plan comes as $42.85b foreign funds remained unused at start of current FY
The BNP submitted its feedback yesterday. So far, 15 other parties have submitted theirs.
State lenders in Bangladesh are sometimes in the news for all the wrong reasons. But they also carry the weight of the fast-expanding economy.
With the novel coronavirus spreading to different countries across the globe early last year, there was then an obvious fear that the pandemic would hit Bangladesh’s shores soon.
In the face of depleting food stock and sluggish public procurement of foodgrains, the government has started providing cash instead of rice or wheat to implement its Test Relief and Food for Work programmes.
The coronavirus crisis has worsened education inequality between rich and poor in Bangladesh as a huge number of students from poor families are not able to access the distance learning adopted by the government, according to a World Bank working paper.
With small businesses still struggling to recover from the pandemic-induced economic slowdown, the government has rolled out two fresh stimulus packages involving Tk 2,700 crore to boost the cottage industry and SMEs and expand the social security scheme for the elderly and widows in poverty-stricken areas.
As confusion continues over the price of Oxford-AstraZeneca coronavirus vaccine, the government and the Beximco Pharmaceuticals Ltd have reiterated that Bangladesh will get the vaccine at the same price India is paying.
Bangladesh will seek to retain the zero duty benefit and the market access for five years after its graduation to a developing country as the pandemic took a heavy toll on the nation’s economy.
Bangladesh yesterday approved the Oxford University-AstraZeneca coronavirus vaccine for emergency use, paving the way for importing the vaccine from Serum Institute of India.
Bangladesh has approved the Oxford University-AstraZeneca coronavirus vaccine manufactured by Serum Institute of India, paving the way for bringing the vaccine for emergency use.
Abdur Rahim*, a private tutor in Dhaka, thought his life had finally stabilised after two decades of hard work. With a steady income, he could afford a place in the capital and sustain his family.
