Tag: economy
-
Bangladesh's economic crisis and lost sovereignty of political leadership
prothom hello , Debapriya Bhattacharya There are many reasons behind the emergence of this situation. Firstly, the required amount of tax could not be collected from domestic sources. Secondly, it was not possible to stimulate private investment. There are many other reasons why even foreign aided projects could not be implemented on time. Infrastructure projects…
-
Bangladesh Bank sees two challenges in the economy
Secondly, the policy interest rate will be increased by 50 basis points to 8.5 percent from the current 8 percent. Third, the six-month moving average rate treasury bill (SMART) system currently used to determine loan interest rates will be abolished. Instead, banks and financial institutions will set interest rates based on market demand, supply dynamics,…
-
Addressing the challenges of the economy: Prioritizing employment, education and social safety net
The country's economy now faces three major challenges – uncontrolled inflation, rising risky debt and slow pace of the economy. The Citizens Forum has identified these three problems in implementing the SDGs (Sustainable Development Goals) and made several recommendations to address these challenges. Center for Policy Dialogue (CPD) and Citizens Platform jointly organized a discussion…
-
Bangabandhu BCS Academy of Administration: Project worth Tk 18.33b amid economic crisis
When asked about the new project, former secretary Faujul Kabir Khan said that there is a need to assess whether the existing training centers are fully utilized or not. “It should also be considered whether a new training center is necessary or not,” he said. After the new government assumed power, a meeting was held…
-
Saudi Arabia warns of economic loss from Gaza war at global summit
“Eight years after Vision 2030, we have demonstrated our willingness to move towards a model of transformative development that is innovative, inclusive and sustainable. And we have seen some results,” Ibrahim said on Saturday. Yet questions remain as to how much of Vision 2030 will be achieved and when, with particular scrutiny placed on signature…
-
IMF advises to keep the budget small
IMF advises to keep the budget small
-
Qatar Emir's visit: Benefits and future prospects for Bangladesh Analysis
Foreign Secretary Masoud bin Momen told Prothom Alo that the Emir of Qatar himself said that he was surprised to see Bangladesh in his eyes. At one stage of the meeting he expressed his surprise at the development activities in Bangladesh and said, “Seeing is believing.” This shows that there has been a qualitative change…
-
The confusing reality of foreign debts: Concerns raised by Debapriya Bhattacharya
CPD Chairman Rahman Shobhan said that Bangladesh is performing better than Sri Lanka and African countries in terms of loan repayment. “We should think more about how we will repay the foreign debt in the coming days, and how we will increase our export capacity. Increasing exports will ease loan repayment. We need to plan…
-
Bangladesh's economy faces four challenges, three risks
According to the World Bank, Bangladesh's economy is currently facing four challenges – high inflation, foreign exchange deficit, import restrictions and risks to the financial sector. However, the WB estimated that Bangladesh's economy would grow at 5.6 percent, although the government has targeted a growth of 7.5 percent. The Washington-based global lender highlighted these in…
-
Why are 39 percent of our youth sitting idle?
Keeping age in mind, youth should be the driving force of the economy. Economists call the high number of young people in the population the demographic dividend. Nearly 50 per cent of Bangladesh's population is young, but 39 per cent of them are 'idle'. This is hindering Bangladesh from taking advantage of this dividend. In…
-
Bank loan interest rate increased to 13.55% in April: Bangladesh Bank implemented new method
Earlier the highest rate of interest was 9 percent. But the central bank retreated from its previous position of setting a fixed interest rate. At present, the interest rate on the loan is decided following the six-month moving average rate of Treasury Bills (SMART) method. Earlier, 3.5 percent additional interest was added to this base…
-
Economic and political question of boycott
Statistics show that bilateral trade and economic relations in both the government and private sectors have grown manifold in 15 years. In 2008, as per official records, Bangladesh's total imports were US$2 billion (US$200 crore), which has now increased to US$16 billion (US$16 billion) and Bangladesh is now India's fourth top export market. Then, official…
-
Repayment of foreign debt crosses $200 billion in eight months: Latest report
According to the report, Bangladesh had to repay more than US$2.03 billion, including interest, for loans taken from various development partners in the first eight months of the current fiscal year, compared to US$1.42 billion at the same time last year. There has been an increase of 610 million US dollars in repayment of foreign…
-
BNP's conspiracy to destabilize the market: Quader
“Almost all BNP leaders have been released from jail on bail. Where is the oppression here? Is this not a contradictory statement?” He asked question. Regarding power import from Bhutan, the AL Secretary General said that he feels that India will not object to importing power from Bhutan using Indian territory. He said that the…
-
Revenue deficit may be Tk 820b in current financial year: CPD
Considering the circumstances, CPD has advised to set three main objectives in preparing the next budget. First, to restore macroeconomic stability and protect disadvantaged populations; Secondly, to take initiative to increase revenue collection so that dependence on banks is reduced and it becomes possible to meet necessary expenditure from revenue income; And third, to prioritize…