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Excessive foreign debt erodes financial independence
Bangladesh Bank

Economics

Excessive foreign debt erodes financial independence

In the 1970s, an American development economist visited Bangladesh. At one point, he gave a speech to the faculty members of Dhaka University. The economics department’s professors were notably present at this event. During his address, the American economist presented his views on why Bangladesh’s economic development was not progressing to the desired level. The professors in attendance listened intently to his words. At that moment, a young economics professor from Dhaka University stood up and said to the American economist, "The reason we are unable to achieve the desired level of development is because you are intervening in our economy in various ways." After a brief pause, the American economist replied to the young professor, saying, "If 80 percent of the funds for your country's development activities come from us, whose economy is it? If you were able to finance your development from domestic sources, we would not need to offer any advice." Hearing this, the young professor remained silent and sat down.

Retreating under bureaucratic pressure is a bad omen
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Editorial Views

Retreating under bureaucratic pressure is a bad omen

After the people's uprising, when the 'Public Administration Reform Commission' was formed alongside other commissions, we hoped that this commission would be able to work independently. We expected it to bring about necessary and significant reforms to weaken the bureaucratic system to some extent. However, when administrative officers organized a protest on December 25, demanding the resignation of Abdul Mueed Chowdhury, Chairman of the Public Administration Reform Commission, over his proposal to introduce a 50 per cent quota for promotion to the position of Deputy Secretary, doubts began to emerge. This raised concerns about whether the commission would be able to work independently under the pressure of the bureaucracy.

PM Hasina seeks UK's help to repatriate Rohingyas to Myanmar
PM Hasina seeks UK's help to repatriate Rohingyas to Myanmar

National

PM Hasina seeks UK's help to repatriate Rohingyas to Myanmar

Prime Minister Sheikh Hasina on Wednesday called upon the United Kingdom (UK) to help repatriate the forcibly displaced Rohingyas to their motherland Myanmar.

UK interested in cooperation in aviation sector
UK interested in cooperation in aviation sector

National

UK interested in cooperation in aviation sector

British High Commissioner to Bangladesh Sarah Cook expressed this interest during a meeting with Civil Aviation and Tourism Minister Muhammad Faruk Khan at the latter’s residence in the capital Today (April 24).

US, UK and French destroy 28 drones of Houthi
US, UK and French destroy 28 drones of Houthi

International

US, UK and French destroy 28 drones of Houthi

The US, UK and France have claimed that they downed 28 drones of Houthi rebels in Yemen. These drones were shot down on the coast of Yemen in the Red Sea.

Plane crash in US kills 5 Canadians
Plane crash in US kills 5 Canadians

International

Plane crash in US kills 5 Canadians

Five Canadians, including three children, were killed when a small plane crashed near a major motorway at Nashville in US state of Tennessee, officials said.

What is the strategy behind the military actions of the US and UK?
What is the strategy behind the military actions of the US and UK?

Diplomacy

What is the strategy behind the military actions of the US and UK?

The Houthis have attacked commercial vessels in the Red Sea. They claim to be expressing solidarity with the Palestinians. However, there is no doubt whatsoever that the Houthis are attempting to gain legitimacy in the Arab world. At the same time, they are trying to restore their eroding support within the country through acts of aggression like attacking ships. On average, 68 vessels pass through the Suez Canal daily. Twelve percent of the world's total commercial goods are transported through this route. Hence, the recent targeting of commercial vessels by Houthi rebels in the Red Sea over the past two months is not something the international community can overlook.

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