As updated by the Finance Ministry, lenders provided a total of US$ 1.77 billion in FY 2022-23. The highest amount received as budget support was US$ 2.6 billion in FY 2021-22, up from US$ 1.09 billion in the previous fiscal year and US$ 1 billion in FY 2019-20. In the last fiscal year, Bangladesh has […]
Responding to a question about bank mergers, Chris Papageorgiou said that this initiative of Bangladesh Bank is needed because of the 61 banks of Bangladesh, some are very strong while others are not. The IMF team expressed satisfaction that Bangladesh has introduced the monthly fuel oil price adjustment system. Chris Papageorgiou commented, “The authorities have […]
The International Monetary Fund (IMF) has once again recommended introducing flexible currency exchange rates in Bangladesh. In a virtual press briefing on Tuesday, IMF Asia and Pacific Department (APD) Director Krishna Srinivasan said Bangladesh has a fiscal account deficit and should introduce a flexible or market-based exchange rate to address it. Loss. The press conference […]
IMF wants 15 percent VAT in all sectors
In the meeting, the IMF wanted to know whether the Central Bank's inspection of the financial health of the banks is continuing or not. Clarification has also been sought as to whether the inspection reports are communicated to the customers or not. Besides, the IMF delegation suggested increasing the quality and number of inspections to […]
The fourth part of the Sixth Schedule of the Income Tax Act provides 10 years of tax exemption to 33 types of organizations in the manufacturing sector. Sectors in this list include active pharmaceutical ingredients and radiopharmaceuticals, agricultural equipment, automatic bricks, automobiles, barrier contraceptives and rubber latex, basic elements of electronics such as resistors, capacitors, […]
At the meeting, the Financial Institutions Division presented updates on defaulted loans and other parameters in four state-run banks, liquidity crisis in the banking sector, risk management, recapitalization in banks, foreign exchange crisis and introduction of laws regarding the financial sector. , When asked about the issue, former Bangladesh Bank governor Salehuddin Ahmed said, “What […]
IMF advises to keep the budget small
Mentioning that he would talk to the Prime Minister on the issue of VAT on Metrorail tickets, Obaidul Quader today said, “Metrorail is a special service of public transport. People are benefiting from this. I don't know who suddenly gave such news before any decision was taken at the highest level of the government. At […]
Over the past decade, the amount of domestic and foreign debt as a proportion of revenue collected by the NBR has increased by nine percentage points, an analysis of NBR and Finance Ministry data shows. This means that government borrowing is increasing every year. The trend of borrowing has been high for the last three-four […]
According to BBS data, on point-to-point basis at constant prices, the growth rate of agriculture sector in the first quarter of the current financial year was 0.84 percent, which was 2.07 percent in the same period of 2022. -23 Fiscal. In the last financial year, the growth of agriculture sector was 3.37 percent. The growth […]
Impossible to meet IMF target: Finance Minister
Economy: New year, old challenges
The central bank – Bangladesh Bank – is buying dollars from other banks to increase its foreign exchange reserves, with the aim of meeting the requirements of the International Monetary Fund (IMF) loan plan. According to sources, despite the severe dollar crisis in the currency market, some commercial banks are selling dollars to the central […]
A leading business firm of the country paid an import bill of US $ 400,000 to a bank last week. He paid a total of Tk 44 million at the official rate of Tk 110 per USD. However, they had to pay an additional 13 taka per dollar through payment order. In total, he paid […]