foreign exchange reserves
Inflationary pains for common people to persist
Like in the outgoing financial year, the common people in Bangladesh will continue to suffer from higher consumer prices in 2023-24 as the factors behind the elevated level of inflation are unlikely to change dramatically.
Private sector’s foreign loan repayment to drop 42% in 2023
The Bangladesh Bank has projected that loan repayments against mid- and long-term foreign credits secured by the private sector might fall by 42.6 per cent in 2023, but the development might not bring about major relief for an economy reeling under the forex crisis.
Export rebound in May provides some relief
Bangladesh’s exports bounced back in May after declining in the preceding two months riding on increased shipment of garments, the main export earning sector, according to data released by the Export Promotion Bureau (EPB) yesterday.
National Budget FY2023-24 / Assess gravity of current problems first
The government is yet to take any comprehensive corrective measures to tackle macroeconomic challenges as it has not properly assessed the gravity of the situation in the current fiscal year, an economist said.
We must curb rising inequality
Reforms following the IMF prescription should not harm disadvantaged groups
What Bangladesh's new budget should offer to common people
The upcoming budget poses significant challenges – arguably the most challenging in recent times – for economic policymaking in Bangladesh.
GDP growth slows to 6.03% in FY23
The economy is estimated to have expanded at a slower-than-expected pace in 2022-23, said the Bangladesh Bureau of Statistics (BBS) yesterday, a figure that analysts describe as good in view of elevated inflation, slowing exports and remittances and the ongoing pressure on the country’s foreign exchange reserves.
Reserves cross $30 billion
It hit $30.36 billion on May 9 thanks to a WB loan of $507 million
Reserves drop below $30 billion
It hit $29.77 billion on May 7
Forex reserves fall below $31 billion
It hit $30.92b on April 30, down from $44.01b on same day a year ago
Gas price hike spells trouble for industries
The latest hike of gas prices undoubtedly spells trouble for industries as they will try to shift the burden onto consumers by raising product prices, which will boomerang onto them by eating away at their competitiveness in international markets.
Lanka gets 6 more months to repay BB’s $200m
Bangladesh Bank yesterday granted Sri Lanka’s request to be given six more months to repay a $200 million loan due to the prolonging of its economic crisis.
Foreign aid sees higher utilisation
The use of foreign aid for development projects in Bangladesh jumped 49 per cent year-on-year in July, providing some relief to the government amid the ongoing pressure on the country’s foreign exchange reserves.
Five ways the dollar crisis impacts RMG makers in Bangladesh
In recent months, the Bangladeshi taka has plummeted to new depths against the US dollar amid a worsening foreign exchange reserve crisis.
Bangladesh economy: Not in crisis but under stress
Bangladesh’s economy is experiencing stress because of the pressure on the foreign exchange reserves, but the situation is not as alarming as many think, said top brass in the financial sector yesterday.
Save dollars: PM orders suspension of Teletalk’s 5G project
Prime Minister Sheikh Hasina has ordered the suspension of Tk 236 crore 5G project of Teletalk to keep the country’s foreign exchange reserves stable.
Use legal channel instead of hundi to send remittance: experts
The government high-ups and the top commercial bankers today urged expatriate Bangladeshis to send their money through the legal channel instead of using hundi – an illegal cross-border money transfer network.
China top holder of forex reserve in Asia
China is the world's largest holder of foreign exchange reserves. It has over two and half times more foreign reserves than the second largest reserve holder, Japan. The Asian giant has US$3.483 trillion of foreign exchange reserves, despite recent fall in foreign reserves.
No Surprise; It Keeps Growing
It is often said that numbers do not lie, but when it comes to the Bangladesh economy, the saying appears to be on shaky grounds.
