Tag: loan
-
ADB will provide $1 billion annually for the development of Bangladesh
He called for concessional loans and sought ADB’s support in tackling major environmental challenges, including solid waste management, sewage treatment, salinity intrusion, waterlogging, and human-elephant conflict. Yun Jeong said ADB will provide US$1 billion annually in concessional financing to Bangladesh over the next five years. He assured increased financial assistance, including grants, to advance Bangladesh’s…
-
Bangladesh Economic Review-2024: Bank credit crosses 20,000 billion taka, deposits rise
According to the review, deposits are increasing by 1000 billion taka every year. But loans are increasing by about 1500 billion taka every year. Meanwhile, one-third of the total deposits have come in the form of fixed deposit receipts (FDR). One-fourth of the loans have gone to the government. According to the Economic Review, total…
-
Protecting weak banks should not come at the cost of destroying the economy
Ahsan H Mansoor, executive director of research organisation Policy Research Institute (PRI), has warned that the economy should not be destroyed to save weak banks. “The policy has to be maintained and we should not back down from it. Commercial banks, which themselves are responsible for the liquidity crisis, are being supplied with money. The…
-
EU ambassador praises Bangladesh's loan terms in DCAB talks, says it is most attractive compared to other countries
Speaking at an exchange of views organised by the Diplomatic Correspondents Association, Bangladesh (DCAB), the European Union (EU) Ambassador spoke about economic growth, climate change, defence and security cooperation, Rohingya problems and future challenges. Charles Whiteley praised Bangladesh for its repayment of foreign debts. He said that the average debt-to-GDP ratio in many Asian countries…
-
Salehuddin Ahmed criticises Bangladesh's increasing reliance on defaulted loans as a business model
Commenting on there being nothing new in the proposed budget, Salehuddin Ahmed said, “The budget has been presented in challenging times. But I don't see anything new in it. The figures from the previous budget have just been shuffled around. It is being said that the budget is contractionary, but if you look at the…
-
Economist Waheeduddin Mahmud warns of economic instability and foreign debt trap in Budget 2024-25 analysis
Fundamental weaknesses have been exposed in the entire economic system. Comprehensive qualitative changes are required, otherwise it will not be possible to overcome the crisis. Wahiduddin Mahmud raised the question whether any such initiative was taken from the highest level of the government. The government is continuously taking foreign loans. Expenditure on interest has increased…
-
Budget 2024-25: Wishlist long, plans falling short
The budget is not about speeches. It is a statement on medium-term macroeconomic policy. This statement is one of the many documents related to the budget. It mentions various challenges faced by the economy, such as a strict monetary and expenditure contractionary policy is being followed, in the hope that this will reduce inflation in…
-
National Budget 2024-25: Finance Minister to unveil 7.97 trillion taka plan amid economic challenges
Though the government is trying to reassure people, no one is believing it because the base has become weak. Apart from this, there is also pressure to fulfill various conditions of the International Monetary Fund (IMF). This multidimensional pressure has also affected the upcoming national budget. The growth rate which was more than 10 percent…
-
Debt repayment pressure on the government: Increasing debt on the government is increasing the debt burden
Meanwhile, a large number of foreign companies are facing difficulties in sending home dividends from investments in Bangladesh and income from various services and products. Their stuck money amounts to about Tk 5 billion. Experts see these debt liabilities as a new challenge for the government. Amid these growing concerns, Finance Minister Abul Hasan Mahmud…
-
Corruption has destroyed our dreams
Corruption has destroyed our dreams
-
Private banks face crisis: default loans and provision losses rise
These findings were presented at a dialogue titled ‘What is the future of banking sector in Bangladesh?’ organised by CPD on Thursday. The CPD said the total amount of NPAs has increased more than three times in the last ten years, from Tk 427.25 billion in the fourth quarter of FY 2011-12 to Tk 1456.33…
-
China offers yuan-denominated loan to Bangladesh amid financial crisis
Calculations have shown that if a country takes a $1 billion loan from China, it will have to pay an average of $100 million of principal per year for the next 10 years, excluding the grace period, while the World Bank says This is $33.3 million annually. , Talking about this, Zahid Hussain, former chief…
-
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…
-
Institutions were made dysfunctional, difficult to fix even after 53 years
In a virtual speech, Ali Riaz, distinguished professor of politics and government at Illinois State University, said the country held elections in three phases while institutions gradually eroded. Professor Rashed Al Mahmood Titumir of Dhaka University's Department of Development Studies observed that a club of businessmen was sharing public assets among themselves. Former Cabinet Secretary…
-
Shop employee becomes real estate tycoon: owner of 7 storey building and 6 flats
The Criminal Investigation Department (CID) has arrested a person for embezzling money from various banks through fake documents and NID. Police said that accused Joynal Abedin has built a seven-storey building and purchased six apartments. CID chief and Additional Inspector General of Police Mohammad Ali disclosed this in a press conference at the CID office…