Rejaul Karim Byron

The United Nations Economic and Social Council (ECOSOC) yesterday supported Bangladesh and Nepal’s request for a three-year extension of the preparatory period for LDC graduation.

Bangladesh is once again considering issuing a sovereign bond to raise funds from international investors, but economists warn the country may not yet be ready

The draft plan has since been circulated among relevant ministries and will be finalised soon before submission to the UNCDP and other international bodies.

The cost of the Dhaka-Ashulia Elevated Expressway project is likely to rise by another Tk 9,493 crore to Tk 27,046 crore, about Tk 5,000 crore less than what it cost to build the Padma Bridge.

The conditions for the possible new International Monetary Fund programme are likely to be based on raising the tax-GDP ratio, reducing subsidies, exchange rate flexibility and banking sector reforms.

Bangladesh’s economy is in crisis due to domestic and external shocks, and graduation from the category of Least Developed Countries (LDCs) this year will worsen the situation due to several risks, according to a government document.

A new International Monetary Fund (IMF) loan programme, prioritising revenue collection growth and banking sector reforms in Bangladesh, may commence next January.

The Finance Division has warned that a possible fresh surge in global oil prices driven by the Middle East war could derail Bangladesh’s inflation-control efforts, pushing average inflation above 9 percent in the current fiscal year and further squeezing household purchasing power.