Inflation prompts poverty situation
Inflation prompts poverty situation
M A Khaleque
- Economist
- Sat, 23 Sep 23
Retired General Manager, Bangladesh Development Bank Limited and Writer on Economics
BB withdraws policy interest rate hike initiative
BB withdraws policy interest rate hike initiative
Prioritizing inflation control for economic resilience
According to the data from the Bangladesh Bureau of Statistics (BBS), the overall inflation rate in the country reached 11.38 per cent in November. This is the highest inflation rate in the past four months. Inflation is rising across both urban and rural areas. Among this, the food inflation rate was 13.80 per cent, the second highest in the last 13 and a half years. In July, the food inflation rate had reached 14.10 per cent. The goal of the monetary policy announced by the Bangladesh Bank is to control high inflation by reducing the money supply in the economy; however, no measures have been successful in controlling high inflation so far. There are no visible signs of inflation coming under control, and inflation continues to rise steadily.
Emphasizing loan recovery over redefining defaulted loans
Emphasizing loan recovery over redefining defaulted loans
Are borrowers or bankers more to blame for default loans?
According to the latest statistics from Bangladesh Bank, the total amount of default loans in the country's banking sector has reached 2,84,977 crore taka. This constitutes 16.93 per cent of the total loans disbursed by banks. In July, the amount of default loans was 2,11,391 crore taka. Therefore, in just three months, the amount of default loans in the banking sector has increased by 73,586 crore taka. During this period, the amount of default loans in state-owned banks has increased by 23,628 crore taka, while in private banks, the increase was 49,885 crore taka.
Is dominance of US dollar in global economy about to decline?
Recently, the BRICS summit was held in Kazan, Russia. Initially, BRICS was formed by four countries: Brazil, Russia, India, and China. Later, South Africa joined, giving it its current name, BRICS. Last year, five more countries were admitted, raising the membership to ten, although the group retained its original name. In this recent summit in Kazan, in addition to the 10 full BRICS members, 25 countries joined as observers, many of which may soon gain full membership. BRICS is fundamentally an economic cooperation bloc, whose member states represent 57% of the world's population and account for 47% of global GDP.