ADP to see record foreign funds next fiscal year
Amid the crisis of dollars, the next Annual Development Programme will have a record Tk 1 lakh crore allocation from foreign funds.
19h ago
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.
1d ago
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.
2d ago
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.
5d ago
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.
1w ago
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
1w ago
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.
1w ago
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.
1w ago
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.
February 18, 2024
GDP growth slows to 13-year low, excluding pandemic period
Bangladesh’s gross domestic product grew 5.78 percent in the last financial year, one of the slowest paces of expansion in 13 years, as consumption nosedived, according to the final figures published by the Bangladesh Bureau of Statistics (BBS).
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