A wide gap in formal and informal exchange rate has been one of the factors behind the sharp fall in the foreign exchange reserves in Bangladesh as it shifts remittances from official channels to unofficial routes and impedes repatriation of export proceeds, said the World Bank.

The multilateral lender says in its latest regional economic update

Bangladesh must make optimal use of the funds to benefit the people.

The World Bank has agreed to provide a loan of $2.25 billion to Bangladesh

Bangladesh’s policy responses to mitigate external imbalances have so far been inadequate although risks have deepened for the country owing to geopolitical tensions, said the World Bank today.

The key to the ACC’s effectiveness in delivering its mandate is independence, especially when setting the example that, in handling allegations of corruption, it is guided by equality before law, and not by the status or identity of the individual depending on their political, governmental, or other connections.

Malpass, appointed by former US President Donald Trump, will depart the multilateral development bank, which provides billions of dollars a year in funding for developing economies, by the end of June.

How much good did the World Bank do in our country?

The agricultural and cereal prices were 2 per cent higher than two weeks ago

Bangladesh has averted a potential major crisis by reaching out to the International Monetary Fund (IMF) in a timely manner, said Kaushik Basu, a former chief economist of the World Bank.

World Bank Managing Director for Operations Axel van Trotsenburg today reaffirmed the global lender’s strong support for Bangladesh to help achieve its vision of achieving upper-middle income status by 2031.

The country’s apparel makers have sought cooperation from the World Bank (WB) for the development of Bangladesh’s garment sector.

Bangladesh should be careful about falling into the middle-income trap, said Axel van Trotsenburg, the World Bank’s managing director of operations.

The World Bank will continue its cooperation and support in the development of the country’s ICT sector.

Agricultural, cereal, and export prices have remained relatively stable in the one month to January 17, said the Food Security Update of the World Bank.

The political climate is brewing steam. Here's a quick round-up of all the major stories today. 

The World Bank yesterday delivered yet another bad news for the economy as the Washington-based multilateral lender pared back Bangladesh’s growth forecast for this fiscal year by 1.5 percent to 5.2 percent.

The government continues to borrow from Bangladesh Bank on a large scale as commercial banks are now unable to finance the state due to liquidity crunch.

Outward remittances from Bangladesh through legal channels crossed the $100-million mark for the first time in 2021 as more foreigners are working in the fast-growing economy, data from a global organisation showed.

The winning team is expected to pitch their idea at the World Bank Headquarters.