It's because of the inflation-led pressures on Bangladesh’s taka and the central bank's undervaluation of the US dollar.
Why this behind-the-curve approach to fighting inflation?
With the facade of the elections at its height, prevailing financial issues seem to have faded into the background.
Under the Income Tax Act, 2023, the 'gain' tax on plots, flats and commercial establishments has doubled and redoubled.
The actual share of NPLs in total loans would have crossed 20 percent had BB not loosened the definition.
Recent trends seem to care too little about the wise art of deficit financing.
While the government’s latest monetary policy for the first half of fiscal year 2023-24 shows an attempt to be rational for the market, it lacks vigour to solve inflation and the dollar crisis.
If we choose only 10 commodities and measure inflation, the figure will land at no less than 20 percent.
What Bangladeshi economists have been saying for a long time is pretty much what the International Monetary Fund (IMF) has told our central bank and the government.
The central bank’s deviation from the policy commitment is the main reason why hundi-makers mushroomed at home and abroad.
Bangladesh, which has been going through financial difficulties for several months now, can finally see a little light at the end of the tunnel.
The new governor of Bangladesh Bank (BB) has heralded robust messages to the country’s banking and financial industry.
One dollar now costs almost Tk 100. The taka has been losing its value against the US dollar for months, with no signs of it changing.
Alan Greenspan, who led the US Federal Reserve for two decades, was summoned in congress and testified that the financial crisis of 2008-2009 was an economic tsunami which could happen once in a century.
It is hard to achieve a growth of around 8 percent, and it will be even harder to maintain this trend unless we reform our ministry of finance (MOF) to steer the economy in the right direction. An MOF is usually the chief conductor of the orchestra of a country’s
This is the first time we noticed a prominent leader of the opposition using an appropriate word, “ambitious”, to describe the budget, instead of branding it as “anti-people.” This is a good sign because the first budget for a new finance minister should be forward-looking.
Finally, the government has decided to re-fix interest rates on National Saving Certificates (NSCs) or Sanchayapatra. Hopefully, it will
Truth shall prevail against lies and falsehood. And economic truths are often ruthless.