government falls Tk 17,946 crore short of the revenue last fiscal year as one of IMF's $4.7 billion loan conditions
Bangladesh Bank introduced a new formula in June to determine the lending interest rate and brought about a single exchange rate recently but both are yet to be determined by the open market, the International Monetary Fund (IMF) has said.
Bangladesh Bank today explained to the International Monetary Fund (IMF) the reasons behind the failure to meet the target on foreign currency reserves, one of the six conditions set by the global lender for its $4.7 billion loan programme.
It seems there exists a nexus among the policymakers, bank directors, and defaulters which facilitates the process of swindling depositors’ money.
The government is going to unveil a Tk 7,61,785 crore budget for the next fiscal year on Thursday, setting containment of high inflation as a major target.
Reforms following the IMF prescription should not harm disadvantaged groups
As is well-known, credit from the IMF comes with strings attached, and the latest one is no exception.
The central bank took the decision to comply with IMF's loan conditions
There is likely to be yet another increase in electricity tariff by June as the government looks to shed its subsidy burden in line with the demands of the International Monetary Fund.