IMF
Forex reserves cross $26b: BB
Bangladesh's foreign exchange reserves have crossed US$26 billion as the International Monetary Fund (IMF) has provided $1.15 billion loans and other lenders provided $900 million.
Country's reserves $24.16 billion in May
According to the BPM6 method of the International Monetary Fund (IMF), Bangladesh's reserves amount to $18,633.5 million, said Finance Minister Abul Hasan Mahmud Ali in response to a question from Jatiya Party Member of Parliament ABM Ruhul Amin Howladar.
IMF Loan: Bangladesh to get $112cr in 3rd installment
The Board of the International Monetary Fund (IMF) has approved the disbursement of the third installment of the $4.7 billion loan for Bangladesh.
ISPR requests not to get misled by rumours over security of St. Martin’s
Inter Services Public Relation Directorate (ISPR) has urged all not to be misguided by rumours spreading through social media over the security of St. Martin’s island centering Myanmar's ongoing internal conflict near the island.
IMF loan: Third tranche of $4.7b to be disbursed in June
Finance Minister Abul Hasan Mahmud Ali has said that the International Monetary Fund (IMF) would disburse the third installment of 4.7 billion dollars of its loan to Banglade3sh in June next.
Was devaluation necessary?
Under the crawling peg system, Bangladesh Bank has set the intermediate dollar price at Tk 117 and instructed banks to trade freely around this rate. A few days ago, economists advocated for a 'floating exchange rate' to maintain the dollar's value as fully market-oriented. They argued that the exchange rate between our currency and foreign currencies should be determined by market forces, with no authority intervening. However, Bangladesh Bank opted not to introduce a floating exchange rate, instead implementing the crawling peg system to manage the exchange rate. Unlike a floating exchange rate, a crawling peg system is not entirely free and open, as it involves some degree of control by the authorities. In this system, the upper and lower limits of the currency exchange rate are set, and the currency must be exchanged within these specified limits.
No more loans in the name of grants
Bangladesh ranks seventh among the top 10 countries most affected by climate change. The increasing global temperature is leading to more frequent occurrences of sudden floods, landslides, heatwaves, and droughts in Bangladesh. Researchers argue that the primary cause of climate change is the release of carbon dioxide by industrialized nations over the past two centuries. Despite their promises, these developed countries are not fulfilling their commitment to provide financial assistance to affected and vulnerable nations. Instead of providing grants, they are imposing various conditions on them to provide loans.
BB fixes dollar price at Tk117, increasing by Tk7 in a day, due to IMF pressure
In the context of a dollar crisis continuing in the country for a long time, the Bangladesh Bank has fixed the official price of the dollar at Tk 117 per dollar in order to fulfill the loan conditions of the International Monetary Fund (IMF), according to central bank circular issued on Wednesday (May 8).
US and allies plan more Iran sanctions
The US and its allies planned fresh sanctions against Iran over its unprecedented attack on Israel, seeking to dissuade Israel from a major escalation as its war cabinet was set to meet for a third time on Wednesday to decide a response.
IMF further lowers Bangladesh's growth to 5.7%
International Monetary Fund (IMF) again revised down the growth forecast for Bangladesh's economy to 5.7% for the current fiscal year 2023-24.
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