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.
Abdul Wahab, a security guard at an ATM booth of a private bank in the capital, works 16 hours a day.
While the government is distracted by elections, the financial economy will suffer
The government has trimmed its growth forecast for this fiscal year by a whole percentage point to 6.5 percent as the energy shortage and inflation dampened economic activities.
The recent policy changes have been so enormous that they have already made the old monetary policy largely defunct.
In the name of taming inflation, central banks have set themselves on a path to cause a recession.
Dealing with these two major challenges is essential for macroeconomic stability
The burden of imported inflation and supply-side implications of reduced imports will have adverse implications for economic growth and welfare, particularly of marginalised people.
Both global and local macro-challenges can have serious implications for the people of Bangladesh
Rising uncertainties are making global compromise and cooperation more unlikely
Bangladesh, which has been going through financial difficulties for several months now, can finally see a little light at the end of the tunnel.
Private sector credit growth in Bangladesh rose further in July despite a contractionary monetary policy adopted by the Bangladesh Bank for the current fiscal year to tame higher inflation.
Would it be possible to import fuel from Russia?
The message from the world's top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession with job losses and shockwaves through emerging markets.
An economy without an independent source of data is like an aircraft flying without its airspeed sensors.
That high inflationary pressure has been taking a toll on people over the last couple of months is apparently evident in supermarkets, where the same amount of money is being spent albeit for the purchase of a lower number and volume of goods.
The nascent mobile phone manufacturing industry in Bangladesh has been hit hard by the higher inflation, unprecedented dollar price hike, and increased value-added tax as their sales have plummeted amid belt-tightening by consumers.
At the current rate, some people may soon be unable to afford food
Does the government not know of the plight of lower- and middle-income groups?
