$234 billion siphoned off during AL rule
A total of $234 billion was siphoned off from Bangladesh between 2009 and 2023, according to the white paper on the state of the economy.
1 December 2024, 22:30 PM
Distressed loans equal to cost of 22.5 Padma bridges
Distressed assets in the banking sector have reached a whooping Tk 6,75,030 crore, an amount bigger than the cost of building 22 bridges across the Padma or 13.5 metro rail systems in Dhaka, according to a White Paper released yesterday.
1 December 2024, 18:34 PM
Bangladesh on track for next IMF loans
Bangladesh is on track to meet all 12 conditions set by the International Monetary Fund (IMF) to qualify for the fourth tranche of a $4.7 billion loan programme, only missing the revenue collection target.
30 November 2024, 18:00 PM
$14b a year lost to capital flight during AL years
Bangladesh has lost around $14 billion a year on average to capital flight during the Awami League’s 15-year tenure, according to the draft report of the committee preparing a white paper on the economy.
28 November 2024, 18:41 PM
Power, Energy Sector: Arrears, subsidies weighing down govt
The interim government is struggling to pay the power bill arrears that were caused largely by “unfair” contracts signed between the previous administration and power producers, and rising international fuel prices.
22 November 2024, 18:08 PM
Budget support from WB, ADB: $1.1b loan likely by December
Bangladesh to utilise the fund to speed up reforms, stabilise reserves
15 November 2024, 18:04 PM
Govt moves to cut budget size
The interim government is going to curtail its expenditure focusing on the budget for 2024-25 in order to keep fiscal pressure within its control, contain inflation and prevent foreign currency reserves from falling further.
14 November 2024, 18:00 PM
BB should prevent second-round effects of inflation: IMF
The Bangladesh Bank (BB) should take measures to prevent “second-round effects” of inflation, the International Monetary Fund (IMF) said.
13 November 2024, 18:00 PM
World Bank points out myriad issues in healthcare
The World Bank has committed to giving Bangladesh $400 million for implementing the next five-year plan for the health sector, which is estimated to cost around $9 billion.
12 November 2024, 18:04 PM
Decision on new wage for RMG workers by April
The decision on whether to formulate another minimum wage for garment workers after making adjustments in line with inflation will be made by April next year.
10 November 2024, 18:00 PM
Govt seeks solution to stubborn inflation
Three advisers to the interim government of Bangladesh will meet today to discuss solutions for taming inflation, which remains high even though several initiatives have been implemented to this end.
6 November 2024, 18:00 PM
Govt to devise plan to retrieve Tk 873cr climate fund from Padma Bank
The interim government is going to formulate a specific roadmap to recover funds of the Bangladesh Climate Change Trust (BCCT), amounting to Tk 873.82 crore, that have been held up in Padma Bank since 2016.
6 November 2024, 18:00 PM
Govt drafts cross-border e-commerce policy
Bangladesh has drafted the Cross-Border Digital Commerce Policy 2024, marking a significant step towards integrating the economy with the global digital marketplace as it looks to facilitate globally accepted payment methods.
4 November 2024, 18:00 PM
Govt decides to lift duties on rice imports
The government is set to import a substantial quantity of rice and withdraw import duties to boost stock.
1 November 2024, 01:00 AM
Interim govt to strengthen universal pension scheme
The interim government plans to strengthen the universal pension scheme (UPS) with the aim of bringing people from all walks of life under a sustainable social security framework.
30 October 2024, 18:00 PM
GDP growth lowest in five quarters
Bangladesh recorded its lowest economic growth in the past five quarters in the last quarter of fiscal 2023-24 due to contractionary monetary and fiscal policies to tackle the dwindling forex reserves and high inflation.
29 October 2024, 01:08 AM
IMF team due in Dec to review fourth tranche of $4.7b loan
The International Monetary Fund (IMF) is sending a team within the first week of December to review whether Bangladesh qualifies for the fourth tranche of a $4.7 billion loan programme.
27 October 2024, 18:00 PM
A good example of a bad plan
A year on, Karnaphuli tunnel losing over Tk 27 lakh a day
27 October 2024, 01:00 AM
IMF slashes growth forecast to 4.5 percent
After the World Bank, the International Monetary Fund has now brought down Bangladesh’s growth forecast for this year as political uncertainty, industrial unrest and floods weigh heavily on economic activities.
22 October 2024, 18:09 PM
Foreign debt servicing surges 29% in Jul-Sep
Bangladesh’s foreign debt servicing surged 29 percent year-on-year in the first three months of fiscal 2024-25 owing to the country’s expanded foreign loan portfolio and the rise in global interest rates.
20 October 2024, 18:00 PM