World Bank
Data Accuracy in Bangladesh: Challenges and Perspectives
The phrase "Garbage in, garbage out," coined by IBM programmer George Fuechsel, reflects the two most important challenges associated with data analysis and policymaking. Poor or unreliable data leads to misleading conclusions and poorly informed policies that may have great repercussions. Whereas many other developed countries have managed to develop solid systems that showcase exact data, Bangladesh has often lagged in this regard and has thus continued to provide inconsistent data ever since the beginning of collecting data. The incongruity affects a great deal of decision-making at the national level, from economic planning to health management to educational policies.
Loan-funded investment in Karnaphuli Tunnel at risk
The Karnaphuli Tunnel, a costly and loss-making mega project in Chattogram, has become a financial burden on Bangladesh’s economy. The tunnel, constructed with significant borrowed funds, now struggles to generate enough revenue to cover even a fraction of its expenses. Experts have pointed out that the loan taken for this project, along with the accruing interest, is being repaid from funds borrowed for other projects. As a result, the country’s economy is trapped in a vicious cycle of debt.
Time to initiate urgent reforms in the banking sector
After the students' movement, an interim government assumed the responsibility of state management under special circumstances. The interim government is now passing three months in office. Public expectations from this government are very high. People hope that it will steer the country towards sustainable development by addressing the various damages created in society. However, there are growing concerns that public trust in the interim government is gradually fading. Although several commissions have been formed for reforms in various sectors, the general public is not well-informed about their activities and progress. In particular, there is skepticism about what the interim government is planning regarding the troubled banking sector and how much of that we will be able to see reflected in the future.
Is it possible to identify 'willful defaulter'?
Bangladesh Bank's March 12 circular aimed at identifying 'willful defaulters' has sparked significant attention within the banking sector. Economists and bankers are closely monitoring the situation, with many hopeful that it will lead to the apprehension of those deliberately defaulting on loans. Economists have persistently advocated for two key measures to tackle the escalating Non-Performing Loan (NPL) crisis: stringent action against willful defaulters and comprehensive reforms to reduce overall NPL levels to a sustainable threshold.
World Bank MD reaches Dhaka for a day
World Bank (WB) Managing Director (Operations) Anna Bjerde has arrived in Dhaka on a one-day visit.
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