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Economics

Will high inflation come under control anytime soon?

Economics

by M A Khaleque

Mon, 15 Jul 24

Will high inflation come under control anytime soon?

The current national budget has given special importance to controlling high inflation. Despite efforts over the past one and a half years, inflation remains unmanageable. The budget has set a target to bring down the inflation rate to 6.5% within the current fiscal year. However, most economists in the country believe this target is unattainable given the current state of the economy. They predict that even if inflation does not rise further, it is unlikely to fall below 9% anytime soon. Finance Minister Abul Hassan Mahmud Ali mentioned in a post-budget press conference that inflation would decrease within the next six months, but did not specify how this target would be achieved. A new monetary policy for the first six months of the current fiscal year is expected to be announced soon, and it is certain that controlling high inflation will be a priority. However, it is unlikely that inflation can be brought to a tolerable level through monetary policy alone.

Will high inflation come under control anytime soon
Money laundering threatens to render development meaningless

Economics

by M A Khaleque

Wed, 3 Jul 24

Money laundering threatens to render development meaningless

Former State Minister for Planning, eminent economist Dr. Shamsul Alam expressed his concern over money laundering while delivering a keynote speech at a seminar organized by the Bangladesh Agricultural Economists Association on June 20. The seminar's theme was "Bangladesh's Economy in the Global Context: Growth, Inflation, Food, and Nutrition." Dr. Shamsul Alam stated that each year, 7 to 8 billion US dollars are being laundered from Bangladesh. He identified money laundering as a significant reason behind the ongoing foreign currency reserve crisis in the country. The former State Minister also mentioned that money laundering is creating complex problems for the country's economy.

Money laundering threatens to render development meaningless

State and Politics

A Second Trump Presidency – A Pandora’s Box for the Global Order
A Second Trump Presidency – A Pandora’s Box for the Global Order

Diplomacy

A Second Trump Presidency – A Pandora’s Box for the Global Order

According to a poll, 40% of Americans think foreign policy should be a primary issue in this election, which shows that number has nearly doubled since last year. How the U.S. impacts global affairs should be a priority for the U.S. Presidential election. However, the world has no say in who should lead the U.S., while the U.S. leader continues to dictate how the world should be governed; this paradox has continued to bewilder, frustrate, and even intrigue foreign affairs experts. In the ongoing discourse on how the next U.S. election will turn out, there is a complex debate on what a second Trump presidency would look like. Arguably, in his first term, Trump rewrote the global diplomacy rulebook. He had also transformed the domestic political landscape, which saw the attacks on the capitol, an incident that was not expected to occur in the U.S. However, this piece will focus on how a second Trump Presidency would impact international affairs.

Pezeshkian's Presidency: Balancing reform and resistance
Pezeshkian's Presidency Balancing reform and resistance

Diplomacy

Pezeshkian's Presidency: Balancing reform and resistance

Reformist Masoud Pezeshkian has been elected as Iran's 14th president, winning by a wide margin over conservative candidate Saeed Jalili, who was favored by Iran's Supreme Leader Ayatollah Ali Khamenei. Pezeshkian hails from West Azerbaijan Province and was born in 1954 in Mahabad city. His father is Iranian-Azeri, and his mother is Iranian-Kurdish. Pezeshkian earned a bachelor's degree in general medicine and, as a young medical student, joined the revolutionaries against the Pahlavi regime. During the Iran-Iraq war in the 1980s, he served as a combat doctor. In 2001, Pezeshkian became Iran's Minister of Health, and since 2008, he has been a Member of Parliament representing East Azerbaijan.

Where are Abed Ali's customers?
Where are Abed Ali's customers?

Politics and Bureaucracy

Where are Abed Ali's customers?

Abed Ali, the former driver of the PSC chairman, has admitted that he has amassed a vast fortune by selling exam questions. Is there no connection between those who got government jobs through Abed Ali's leaked questions and Abed Ali himself? Of course, there is. No one severs ties with such a crucial contact because every year there are exams, and Abed Ali's customers look for questions for their siblings, friends, and relatives. This way, government job seats get filled with those who acquired Abed Ali's questions, sidelining the deserving candidates and boosting the unqualified ones.

How rational is BNP's opposition to India?
How rational is BNP's opposition to India?

Politics and Bureaucracy

How rational is BNP's opposition to India?

Since the formation of the Awami League government after 2008, the BNP has held press conferences every time the Prime Minister of Bangladesh has visited India, criticizing the visits. The BNP has consistently opposed the agreements and treaties made during these visits, presenting negative comments. Dear readers, do you think that all the memorandums of understanding and agreements with India since 2009 are unreasonable and anti-national? According to the BNP, they certainly seem to be. Is it possible that the BNP has reached a point where opposing the Awami League government means opposing India as well?

Bangladesh's contribution to establishing a peaceful world
50 years of Bangladesh at the UN Bangladesh's contribution to establishing a peaceful world

Diplomacy

Bangladesh's contribution to establishing a peaceful world

Bangladesh became the UN's 136th member on September 17, 1974, and ever since, it has been a contributing member of the UN. Bangladesh is a role model in achieving many of the UN goals. The UN may not achieve sustainable peace in the world yet, but in the social, economic, and health sectors, its achievements are significant. Because of the UN and its approach of targeting goals in the area of social, health, economic, and education sectors, for example, it helped in reducing poverty and hunger across nations, increased enrollment in primary schools significantly, infant and maternal death rates has reduced substantially, people below the poverty and hunger level has gone down in many countries, the longevity and comforts of life and living has improved all across nations.

A less commendable's thoughts on merit
Quota movement Thoughts on merit by less meritorious

Politics and Bureaucracy

A less commendable's thoughts on merit

Students across the country have initiated a movement called "Bangla Blockade," demanding the abolition of the quota system in government jobs. The "Bangla Blockade" involves sit-ins that aim to paralyze Bangladesh. They have been organizing protests and human chains since 2018, leading the Awami League government to issue a notification abolishing the quota system for first and second-class government jobs. In 2021, several children of freedom fighters challenged the government's decision to abolish the freedom fighter quota in the High Court. On June 5 of this year, the court declared the abolition of the reserved quota for freedom fighters illegal. The quota system was initially implemented by the Awami League government, and it was the same government that later abolished it.

Industry

Power plants producing less electricity than capacity
Power plants producing less electricity than capacity

Power and Energy

Power plants producing less electricity than capacity

The country has a total installed capacity of 26,364 MW in power plants. Amidst an intense heatwave on April 30, the highest electricity generation recorded was 16,477 MW. Typically, the production ranges from 10,000 to 12,000 MW, and during nighttime, it increases to 14,000 to 15,000 MW. This means that even on the highest production days, about 10,000 MW of capacity remains idle daily. On average, 37% of power plants are not utilized. This raises the question of whether such a high number of power plants was necessary.

International

Trump officially nominated for president, picks JD Vance for running mate

Trump officially nominated for president, picks JD Vance for running mate

Donald-Trump

Donald Trump selected US Senator JD Vance on Monday to serve as his vice presidential running mate, as the Republican Party officially nominated the former president as its 2024 presidential nominee at the start of the party's national convention in Milwaukee.

Trump stars at Republican convention clouded by shooting

Trump stars at Republican convention clouded by shooting

Donald-Trump

Donald Trump returns to the campaign trail on Monday (Jul 15) as the star of the Republican National Convention in Milwaukee – a gathering meant to fire up the grassroots that has instead been overshadowed, by the weekend attempt on his life.

Special Content

Bangladesh's Economy to pay high prices due to climate change
Global climate change impact and global crisis

Bangladesh's Economy to pay high prices due to climate change

In recent times, the most widely discussed and important topic globally is climate change. It can be said that this is the biggest challenge of the 21st century. As climate change increasingly has adverse effects on biodiversity, it has become a matter of concern for us. Extensive research is also being conducted on this issue. Climate naturally undergoes some changes due to natural causes. However, the extent to which temperatures are now rising is primarily due to human activities. Since humans started burning oil, gas, and coal to operate factories and vehicles or to heat homes in winter, the Earth's temperature has increased by 1.2 degrees Celsius compared to that time. The amount of carbon dioxide, one of the primary greenhouse gases in the atmosphere, has increased by 50 percent compared to the 19th century. In the last two decades, it has increased by 12 percent. Deforestation also contributes to the rise in greenhouse gas emissions in the atmosphere, as trees absorb carbon. As a result, when trees are cut down or burned, the stored carbon is released into the atmosphere. To live healthily in any region, a healthy and clean environment is essential. The impact of the environment on our overall lives is immense.

National

Economics

Will high inflation come under control anytime soon?
Will high inflation come under control anytime soon

by M A Khaleque

Mon, 15 Jul 24

Will high inflation come under control anytime soon?

The current national budget has given special importance to controlling high inflation. Despite efforts over the past one and a half years, inflation remains unmanageable. The budget has set a target to bring down the inflation rate to 6.5% within the current fiscal year. However, most economists in the country believe this target is unattainable given the current state of the economy. They predict that even if inflation does not rise further, it is unlikely to fall below 9% anytime soon. Finance Minister Abul Hassan Mahmud Ali mentioned in a post-budget press conference that inflation would decrease within the next six months, but did not specify how this target would be achieved. A new monetary policy for the first six months of the current fiscal year is expected to be announced soon, and it is certain that controlling high inflation will be a priority. However, it is unlikely that inflation can be brought to a tolerable level through monetary policy alone.

Promotion

Palak promises laptops for women trainees in Cox's Bazar

Palak promises laptops for women trainees in Cox's Bazar

Palak promises laptops for women trainees in Cox's Bazar

State Minister for Post, Telecommunication and Information Technology Zunaid Ahmed Palak has promised to provide laptops to women trainees of "Her Power Project: Empowerment of Women through Technology (1st Revision)", being implemented to ensure sustainable empowerment of women as entrepreneurs through best and safe use of information technology.

Diplomacy

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