Embassy says after US delegation meets foreign adviser
As Bangladesh enters a new era following the ouster of the Sheikh Hasina-led Awami League government, which ruled over the nation for 15 years and is responsible for countless financial wrongdoings, the need of the hour is to reform the overall system of governance.
Amid worker unrest and insecurity in the industrial sector, entrepreneurs and bankers have urged the new administration to focus on rebuilding confidence in the economy.
These incidents may have a serious impact on the economy
Imports, remittances and forex reserves are likely to increase, the leading chamber says
The panel gets 90 days to prepare and submit the paper
Govt should overhaul ailing sectors, ensure accountability
Economic activities are finally returning to normal after three weeks of upheaval as both garment and non-garment factories started operations in full swing yesterday, according to industry insiders.
The priorities of newly appointed finance adviser Salehuddin Ahmed should be to make key financial institutions functional immediately, control inflation, and present accurate data on exports, imports, GDP and important economic indicators, economists said.
In the end, it was a war that began some 5,800 kilometres away a year ago that laid bare the longstanding weaknesses of the Bangladesh economy.
Nearly a year ago when President Vladimir Putin launched a full-scale invasion of Ukraine, many had thought that the war would end soon
Russia’s war in Ukraine might be taking place 5,800 kilometres away from Bangladesh and the country is not involved militarily in the dragging conflict in any way, but its economy and people have been paying heavy prices.
Eight banks in Bangladesh faced a collective provisioning shortfall of Tk 19,048 crore in 2022, creating a risk for their depositors.
The International Monetary Fund would be watching the Bangladesh economy like a hawk, stipulating an extensive list of data reporting regularly as part of the conditions agreed upon for the $4.7 billion loan programme.
More than two and a half years ago, the government took a Tk 1,500 crore safety net programme for the workers who lost their jobs owing to the devastating impact of Covid-19.
The government has kept borrowing from the Bangladesh Bank as commercial banks can’t come up with much-needed funds owing to the liquidity crunch.
Bangladesh is at a crossroads where the past meets the present and the future is forged.
The private sector’s foreign debt decreased by 4.3 per cent, or more than $1 billion, in the second quarter of the current fiscal year following Bangladesh Bank’s strict measures to control imports.
Bangladesh is going through a period of economic slowdown and this weakening of the economy will be looming large for the entire period of 2023. The biggest problem for the common people now is inflation. It has increased the living cost and decreased the actual income.