Has IMF experiment delivered?
Two years after Bangladesh turned to the International Monetary Fund (IMF) for a $4.7 billion bailout to address its worsening macroeconomic pressures, the nation stands at a crossroads.
21 December 2024, 18:35 PM
Large budget looms amid high inflation
The government has planned a Tk 8.48 lakh crore budget for the next fiscal year, up 6.3 percent from this year’s budget, as it looks to usher in a period of moderate growth and low inflation.
20 December 2024, 18:29 PM
Taskforce readies strategies to fix economic fault lines
The planning ministry’s taskforce for sustainable development has drafted a report with proposals to fix the economic fault lines identified by the white paper on the economic state of the country and achieve moderate economic growth.
17 December 2024, 18:00 PM
Health spending falls substantially in Jul-Nov
The health ministry’s development spending has dropped substantially year-on-year in the first five months of the current fiscal year, despite the interim government’s move to raise its allocation in the revised budget.
15 December 2024, 18:00 PM
ADB approves $600m to accelerate economic recovery
The Asian Development Bank (ADB) has become the first among multilateral and bilateral lenders to respond to the interim government's call for budgetary support, approving $600 million aimed at easing pressure on foreign exchange reserves and accelerating economic recovery.
11 December 2024, 19:59 PM
IMF offers extra $1b for reforms
The International Monetary Fund (IMF) has offered an additional $1 billion to Bangladesh but the government is pushing for at least $2 billion to implement the interim government’s reform agenda, narrow the deficit in the current account and shore up the dollar stockpile.
11 December 2024, 18:30 PM
Revised budget may be Tk 50,000cr smaller
Bangladesh’s national budget for fiscal year 2024-25 is likely to be reduced by more than Tk 50,000 crore, with the entire cut expected to be made in funds meant for the annual development programme (ADP).
7 December 2024, 18:00 PM
$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