Finance adviser talks about govt’s 3 strategies to ease economic strain
The previous government, led by Sheikh Hasina, ignored repeated warnings from experts on various economic issues in Bangladesh, according to Mohammed Farashuddin, a former governor of the country’s central bank..“The Hasina administration did not heed warnings from economists on the lack o
Bangladesh’s worsening economic crisis has spun off a price shock with food inflation crossing 14 percent in July for the first time in 13 years.
Bangladesh has entered a new chapter in its journey as the wheels of the economy are rolling again, with the country still healing from fresh wounds.
Just as social media competes for individuals’ attention, so do global crises.
The nationwide blockade being observed by several political parties in Bangladesh is taking its toll on businesses as sales have plunged. The transport blockade, set to enter its fifth phase on Wednesday, aims at forcing the current government to step down and pave the way for holding the next parliamentary election under a non-partisan interim government.
The political unrest and the garment workers’ agitation in the apparel sector have started to take a toll on the economy that is already grappling with elevated inflation, a depleting dollar stockpile, slowing exports and decelerating private sector activities.
Through the RTI Commission of Sri Lanka, citizens could weight in on matters impacting the nation.
Bangladesh government should own up to its mistakes
The demand for luxury apartments has remained unchanged while the sales of regular properties and initiation of new housing projects are in the slow lane amid the ongoing economic crisis, according to market players.
Medical treatments are about to get costlier as production cost for manufacturing drugs will go up by at least 25 per cent following a recent hike in gas and power charges, according to manufacturers.
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.
Climate change will accelerate humanitarian crises around the world in 2023, adding to the issues created by armed conflict and economic downturns, according to a study by the NGO International Rescue Committee (IRC).
The Asian Infrastructure Investment Bank has become the first multilateral lender to respond to Bangladesh’s call for budget support this fiscal year to weather the impacts of the Ukraine war after its board approved $250 million last week.
Bangladesh may witness slower economic growth in the coming future if it retains the consumption-led growth, which will also exacerbate the widening inequality, said a development economist yesterday.
Government support was vital to help people and firms survive pandemic lockdowns and support the economic recovery. But where inflation is high and persistent, across-the-board fiscal support is not warranted. Most governments have already dialed back pandemic support.
Businesses in Bangladesh went through a tough time in recent months due to a dearer US dollar that pushed up their costs of raw materials and a rocketing fuel bill that contributed to the surge in operating expenses.
The government must implement economic policies that deal with the ongoing crisis
Bangladesh may fall into deep economic crisis unless it puts in place comprehensive policies and reforms, and starts implementing them immediately, said a number of economists yesterday.
