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.
1d ago
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.
4d ago
Higher debt to put strain on Bangladesh as revenue remains low
In the last decade, the debt-to-GDP ratio rose by 13 percentage points. The IMF forecasts that the ratio will reach 43.5 percent in 2028-29.
5d ago
Social safety net to get wider and better
A top official of the ministry said the government would increase the number of beneficiaries in two major schemes – the old age allowance and the allowance for widows, deserted, or destitute women.
1w ago
Economy in for a double whammy
With inflation edging towards double digits and quarterly GDP growth nearly halving year on year, pressure on consumers is mounting and experts are pointing at even darker clouds.
1w ago
Govt asks ministries to brace for further belt-tightening in budget
Last week, the finance division issued a circular asking all ministries and divisions to send by April 29 their budget proposals for 2024-2025 and their expenditure plans for the following two financial years to help prepare the midterm budgetary framework.
2w ago
Uninterrupted power in summer: Energy ministry seeks dollars, unpaid subsidy
The ministry of power, energy and mineral resources has sought the undisbursed subsidy at the earliest to continue with uninterrupted electricity supply during the summer months.
2w ago
New budget to set 10 priorities to steady economy
The government plans to design a Tk 7,96,900 crore outlay in the new budget with a focus on tight spending policy as economic headwinds are expected to persist in the next fiscal year.
3w ago
March 18, 2024
3.77cr suffered food insecurity last year
Around 3.77 crore people experienced moderate to severe food insecurity in 2023, according to a survey by Bangladesh Bureau of Statistics.
March 12, 2024
Private Sector External Debt: Repayments outstrip new loans in 2023
The private sector's short-term foreign debt repayment surpassed new loans in 2023, in a complete reverse of the trend seen in previous years.
March 11, 2024
Seven hurdles that are holding back timely completion of foreign-funded projects
The Planning Commission has identified seven hurdles standing in the way of the smooth implementation of foreign-funded projects, a move that may go on to help the government avoid unnecessary delays and save money.
March 8, 2024
Moody’s Report: Banking outlook revised to stable from negative
US rating agency Moody’s Investors Service yesterday changed its outlook for Bangladesh’s banking system to stable from negative, which will relieve the central bank boss of stress.
March 4, 2024
Fuel oil price may decrease once automated pricing kicks in
The government is going to start implementing the newly-formulated mechanism for setting fuel prices in line with global market rates by the end of this month and officials of the energy and finance division believe prices may reduce after the first adjustment.
March 1, 2024
Automated fuel pricing at last
The government has at last introduced the automated fuel pricing mechanism that will see the domestic fuel prices adjust in line with the prices in the international market every month.
February 28, 2024
Hefty power bill to weigh on consumers
The government has decided to increase electricity prices by Tk 0.34 and Tk 0.70 a unit from March, which according to experts will have a domino effect on the prices of essentials ahead of Ramadan.
February 27, 2024
World Bank suggests unified exchange rate, further monetary tightening
The World Bank has recommended Bangladesh put in place a unified exchange rate and tighten monetary policy further in order to tame persistently high inflationary pressure and end the foreign exchange crisis.
February 27, 2024
$7b pledged in foreign funds
When Bangladesh is facing a reserve squeeze, it has received fresh commitments for $7.2 billion in loans from global lenders in the first seven months of fiscal 2023-24, a fourfold increase from a year earlier.
February 20, 2024
Foreign Loan: Repayment crosses $4b for first time
Foreign loan repayment, which was hovering around $3 billion since fiscal 2012-13, crossed the $4 billion-mark for the first time last fiscal year on the back of high interest payments and short-term loans in the power and energy sector.
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