Inflation to hit double digits by end of FY25: ADB
Inflation is projected to hit double digits at the end of the current fiscal year owing to supply-side disruptions and higher import costs as a result of currency depreciation, according to the Asian Development Bank (ADB).
25 September 2024, 18:00 PM
Metro line-5 proposal to be re-evaluated
For the first time, a proposal for a mega project will be sent back for further review as the interim government intends to re-evaluate all large projects to assess their usefulness carefully.
23 September 2024, 18:00 PM
IMF may seek subsidy cuts, more revenue against $3b loan
The International Monetary Fund (IMF) is likely to give more reform recommendations to reduce subsidies and increase revenue collection for an additional $3 billion loan sought by the interim government, according to a top official of the multilateral lender in Dhaka.
22 September 2024, 18:00 PM
IMF to assess Bangladesh’s need for fresh loan
An International Monetary Fund (IMF) delegation due to arrive later this month will assess Bangladesh’s potential financial needs as the country sought a fresh $3 billion loan from the multilateral lender.
14 September 2024, 18:00 PM
Govt urges China to reduce loan interest, extend repayment period
The government has requested China to lower the interest rates on existing Chinese loans to 1 percent and extend the repayment period to 30 years.
12 September 2024, 18:00 PM
Workers’ minimum wage to be reviewed
In an effort to bring normalcy back to the industries, the government will review the workers’ wage through the minimum wage board, the interim government has decided.
12 September 2024, 01:00 AM
Bangladesh seeks $3b from ADB, WB
Bangladesh could get $3 billion in budgetary support under an Asian Development Bank (ADB) and World Bank (WB) arrangement for energy and power sector reforms and the upcoming status graduation from a least developed country (LDC) to a developing nation in 2026.
10 September 2024, 18:00 PM
Export target set at $57.5b for FY25
Bangladesh aims to increase its merchandise and service exports by about 12.74 percent year-on-year to $57.5 billion in the fiscal year 2024-25, according to Finance and Commerce Adviser Salehuddin Ahmed.
8 September 2024, 18:00 PM
Govt may trim budget by Tk 100,000cr
The interim government is planning to revise the national budget for the current fiscal year urgently and cut “wasteful expenditures” in order to alleviate the pressure on the foreign currency reserves and tame persistent inflation.
31 August 2024, 18:00 PM
Budget support: Govt hunts for $8b from IMF, other lenders
The government is seeking as much as $8 billion in budget support by December from the development partners, including the International Monetary Fund (IMF), to pay back foreign liabilities and boost foreign exchange reserves.
28 August 2024, 18:00 PM
Data anarchy in revenue and expenditure continues
Although the authorities took steps to eliminate mismatches in export data in recent months, discrepancies in the data of revenue collection and expenditure among government agencies continue to persist.
26 August 2024, 18:00 PM
Govt to speed up foreign aid utilisation
As foreign aid in the pipeline reached nearly $46 billion at the start of this fiscal year, the interim government will take initiatives to utilise those funds to bolster the country’s foreign currency reserves.
22 August 2024, 18:00 PM
Crisis provides an opening for important reforms
Bangladesh is facing several challenges, including restoring law and order and stabilising the economy in the near term.
21 August 2024, 18:00 PM
Interest payment for foreign loan jumped 162% in Jul-Mar of FY24
Interest payments against foreign loans shot up 162 percent year-on-year in the first nine months of the last fiscal year as debt servicing of loans taken for some mega projects has started.
21 August 2024, 18:00 PM
AL govt leaves behind $156 billion debt
When Sheikh Hasina returned to power in 2008, Bangladesh’s total debt was just $33.66 billion. When she fled amid an unprecedented student-led uprising on August 5, she left behind a burden of $156 billion in local and foreign loans for the country to carry.
20 August 2024, 18:00 PM
‘Big defaulters won’t be spared’
Finance Adviser Salehuddin Ahmed has vowed to mete out exemplary punishment to big loan defaulters as the interim government scrambles to fix the ailing banking sector of Bangladesh.
17 August 2024, 18:00 PM
BB may hike policy rate again to curb inflation
The Bangladesh Bank may increase the policy rate for both local and foreign currencies in a bid to reduce inflation and increase international reserves.
17 August 2024, 18:00 PM
Food inflation tops 14pc for first time in 13yrs
Bangladesh’s worsening economic crisis has spun off a price shock with food inflation crossing 14 percent in July for the first time in 13 years.
12 August 2024, 18:00 PM
Economists outline top priorities for new finance adviser
The priorities of newly appointed finance adviser Salehuddin Ahmed should be to make key financial institutions functional immediately, control inflation, and present accurate data on exports, imports, GDP and important economic indicators, economists said.
10 August 2024, 18:00 PM
Politically-motivated lending causing bad loans to spiral: WB
The amount of bad loans has been spiralling in Bangladesh owing to rampant politically-motivated lending and inadequate credit risk management, according to a World Bank report.
29 July 2024, 18:00 PM