Rejaul Karim Byron

The unit will work under the Finance Division

The government is going to amend the Bangladesh Bank Order, 1972 to align it with global best practices and give the central bank more autonomy so that it can initiate steps to help the economy deal with pressure.

The central bank discovered six types of statistical wrongdoing that inflated export data, a development that led to a multibillion-dollar correction.

For the sixth consecutive year, the finance division has imposed several restrictions on allocated budget expenditures, including foreign tours and block allocation, as a part of austerity measures amidst the ongoing economic crisis.

Bangladesh will seek fresh loans amounting to $20 billion during Prime Minister Sheikh Hasina’s upcoming visit to China, which Beijing hopes would be a “game changer” in the bilateral relationship.

The government aims to borrow more from the domestic sector at fixed rates and for longer periods and cut reliance on Treasury bills with a view to keeping debt risks lower and avoiding exchange rate volatility.

Talks on Chinese loan proposals will be at the fore during Prime Minister Sheikh Hasina’s upcoming visit to Beijing.

Bangladesh is going to fulfil the International Monetary Fund’s condition on foreign exchange reserves in June on the back of record budget assistance from global creditors, the first time since the IMF approved its $4.7 billion loan programme more than a year ago.

The International Monetary Fund has suggested an alternative to reducing agricultural subsidies -- raising fertiliser prices and providing cash or vouchers for certain farm inputs to support poor farmers.

The International Monetary Fund (IMF) has suggested the central bank raise the policy rate by 50 basis points by December this year since its monetary tightening is yet to rein in inflation.

Bangladesh’s interest payments on external borrowing are projected to soar by 65 percent within three years due to rising global interest rates and an expanded foreign loan portfolio, which will put further pressure on the dwindling foreign currency reserves. 

The International Monetary Fund (IMF) has suggested greater exchange rate flexibility to preserve reserve adequacy, warning failure to do so may create further imbalances in the currency market.

The government gave its commitment to the International Monetary Fund regarding around 50 issues to restore macroeconomic stability and good governance in the financial sector.

Bangladesh will have to comply with 33 new conditions by June next year in order to receive the next two instalments under the International Monetary Fund’s $4.7 billion loan programme.

The International Monetary Fund yesterday approved the third tranche of $1.15 billion loans in a boost to Bangladesh’s foreign exchange reserves.

On the back of the credits from the World Bank and the International Monetary Fund, Bangladesh may meet for the first time the condition on net foreign exchange reserves attached to the $4.7 billion loan from the IMF and secure the next instalment.

It declined 68% year-on-year to 17.71 million Swiss francs in 2023

Bangladeshi nationals and banks kept 17.71 million Swiss francs (CHF) in deposits last year in the banks of Switzerland, the lowest on record, reflecting the fading attractiveness of the country among the wealthy to park money.

India may offer Bangladesh fresh loans under a new framework, as implementation of the projects under the existing loan programme is proving difficult due to some strict loan conditions.

The International Monetary Fund will discuss releasing $1.15 billion in the third instalment of its loan to Bangladesh during its board meeting on June 24. This is part of the IMF’s $4.7 billion loan programme for the country.