Bangladesh Bank yesterday granted Sri Lanka’s request to be given six more months to repay a $200 million loan due to the prolonging of its economic crisis. 

The use of foreign aid for development projects in Bangladesh jumped 49 per cent year-on-year in July, providing some relief to the government amid the ongoing pressure on the country’s foreign exchange reserves.

In recent months, the Bangladeshi taka has plummeted to new depths against the US dollar amid a worsening foreign exchange reserve crisis.

Bangladesh’s economy is experiencing stress because of the pressure on the foreign exchange reserves, but the situation is not as alarming as many think, said top brass in the financial sector yesterday. 

Prime Minister Sheikh Hasina has ordered the suspension of Tk 236 crore 5G project of Teletalk to keep the country’s foreign exchange reserves stable.

The government high-ups and the top commercial bankers today urged expatriate Bangladeshis to send their money through the legal channel instead of using hundi – an illegal cross-border money transfer network.

China is the world's largest holder of foreign exchange reserves. It has over two and half times more foreign reserves than the second largest reserve holder, Japan. The Asian giant has US$3.483 trillion of foreign exchange reserves, despite recent fall in foreign reserves.

It is often said that numbers do not lie, but when it comes to the Bangladesh economy, the saying appears to be on shaky grounds.