Rejaul Karim Byron

Forex position to stabilise in next few months: Moody's

It will be supported by the recent improvement of the current account balance to modest surpluses partly reflecting ongoing import restrictions, narrowing financial account deficits as business uncertainties gradually ease following the conclusion of the general elections in January, it said.

11h ago

Budget For Fy25: 53pc rise in allocation for debt servicing

The government’s allocation to repay foreign debts may reach Tk 57,000 crore in the next budget, a 53 percent rise from the current year, putting further pressure on the country’s dwindling foreign currency reserves.

18h ago

Fixed expenses to eat up 40pc of next budget

The government has to spend about 40 percent of the next budget on subsidies, interest payments, and salaries and allowances of government employees, which will limit its ability to spend on social safety net, health and education.

4d ago

Rooppur, Matarbari, metros to get highest ADP allocation

The government is set to increase budget allocation for quick completion of the Rooppur nuclear and Matarbari coal-fired power plant projects.

1w ago

April food prices cross 10%, highest in five months

According to the Bangladesh Bureau of Statistics (BBS), food inflation jumped 35 basis points to 10.22 percent last month from 9.87 percent in March. This was the first time in five months that food inflation hit double digits.

1w ago

Make budget tight, control inflation

Prime Minister Sheikh Hasina yesterday directed the finance ministry to formulate a contractionary budget for the upcoming fiscal year to control inflation.

1w ago

Health, education face spending cuts again

Education and health sectors are set to get less Annual Development Plan allocation than prescribed in the eighth five-year plan.

1w ago

Will BB steps build up reserves? Not so soon

Bangladesh Bank’s steps to boost the country’s foreign currency reserves will not yield any positive results overnight.

2w ago
May 7, 2024
May 7, 2024

Forex reserve target for IMF loans may be revised down to $18b

The latest proposal was made to the IMF’s visiting mission yesterday during a joint meeting with officials of the finance division and central bank at the finance ministry in Dhaka.

May 6, 2024
May 6, 2024

Taka to trade more freely by next month

Bangladesh will introduce a crawling peg system by next month to make the exchange rate more flexible and improve the foreign currency reserves, a key prescription from the International Monetary Fund.

May 3, 2024
May 3, 2024

Power price to go up four times a year

The government has drawn up a plan to increase the price of electricity four times a year for the next three years to withdraw all subsidies in the power sector, which the IMF recommends.

May 1, 2024
May 1, 2024

More exchange rate flexibility needed

Bangladesh’s macroeconomic performance has significantly improved since the country entered the IMF’s $4.7 billion loan programme in January last year, but the bleeding of foreign currency reserves continues, putting the taka under pressure, the global lender said yesterday.

April 30, 2024
April 30, 2024

IMF suggests greater flexibility in exchange rate to ease pressure on external account

Bangladesh should allow greater flexibility in its exchange rate to address issues in its external account, particularly the deficit in the financial account, said the International Monetary Fund (IMF) today

April 30, 2024
April 30, 2024

IMF Loan: Govt may miss two key targets set for fourth tranche

The government is likely to ask the International Monetary Fund (IMF) to revise down two key targets related to Net International Reserves (NIR) and tax revenue collection, set for June this year for the release of the fourth tranche of its $4.7 billion loan, finance ministry officials said.

April 28, 2024
April 28, 2024

A third of budget spent on interest payments, subsidies

The government spent Tk 246,583 crore in July-January of 2023-24 out of the total budget of Tk 761,785 crore for the entire fiscal year, figures from the finance ministry showed. The outlay under interest payments and subsidies was Tk 88,226 crore, which was 36 percent of the allocation.

April 28, 2024
April 28, 2024

Improving summer power supply: Govt pays half the subsidy power ministry needs

The Finance Division last week disbursed Tk 1,500 crore in subsidy against the power ministry’s demand for the immediate release of Tk 3,000 crore to boost electricity supply during the summer months.

April 26, 2024
April 26, 2024

IMF suggests raising power, gas and fertiliser prices

The International Monetary Fund yesterday recommended reducing government subsidies by hiking prices of power, gas and fertiliser, and spending the saved money on society safety net programmes.

April 23, 2024
April 23, 2024

3rd Loan Tranche: IMF team to focus on four key areas

During its visit to Dhaka, the International Monetary Fund’s review mission will focus on Bangladesh’s foreign exchange reserves, inflation rate, banking sector, and revenue reforms.

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