Rejaul Karim Byron

Bangladesh's remittance earnings climb, fuelled by informal market shift

A high-level team of the interim government led by Finance Adviser Salehuddin Ahmed will hold meetings with the Japanese government on the possibilities of reducing the metro-rail project costs.

The interim government by December will prepare a guideline for the next government to eliminate delays and irregularities in project implementation.

Amendments to Bank Company Act also propose smaller boards, reducing family control

The Ecnec yesterday approved the construction of Rabindra University in Sirajganj, despite objections from several advisers over the plan to build it by filling up a wetland.

Central bank seeks nod from Washington after Russia's reply

The costs of two projects -- one aimed at promoting environmentally sustainable surface water supply in Dhaka and the other for building mini stadiums in upazilas -- are likely to double their original estimates.

Economists have welcomed the interim government’s initiative to grant full autonomy to the Bangladesh Bank (BB) but say the reforms will remain on paper unless political parties commit to endorsing and continuing them once in power.

Dhaka aims for $63.5b in exports, capitalising on new US tariff regime

The overhaul plan will start with at least five banks

If macroeconomic stabilisation has been the interim government's main success, revenue collection is its most glaring failure

Government tightens control over foreign loans with new preconditions

The Bangladesh Bank (BB) has formed a $500 million fund to contain erratic movements in the foreign exchange market, as the country moves towards a more flexible exchange rate regime in line with International Monetary Fund (IMF) conditions.

The government is drawing up a three-year roadmap to gradually cut subsidies in the power and gas sectors, aiming to ease the growing fiscal pressure.

The government yesterday decided to import 4 lakh tonnes of rice in its efforts to curb the spike in prices of the staple and build adequate stocks in advance so that it can intervene in the market in case of volatility originating from crop losses due to natural disasters like floods in the coming months.

The warning came just days before the Trump administration imposed a sweeping 35 percent US tariff on all Bangladeshi exports

The interim government yesterday imposed several restrictions on allocated budget expenditures, including foreign tours and vehicle purchase, in a turn towards austerity amid low revenue collection.

Bangladesh has committed to a sweeping overhaul of its troubled financial sector, outlining a detailed three-year roadmap as part of its latest agreement with the International Monetary Fund.

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.