International Monetary Fund
No more dillydallying expected in bank reforms
Some banks in the country have been misappropriating depositors’ money since their inception. Bangladesh Bank, on the other hand, does not appear to be greatly concerned about the wholesale misappropriation that has taken place across the entire banking sector. Although, after the mass uprising, Bangladesh Bank Governor Ahsan H Mansur spoke optimistically about this sector, the expected results have yet to be seen. Last week, in an interview with a news outlet, he said Bangladesh Bank would inject Tk 20,000 crore into bank reforms. The question now is: what has been done about those who have embezzled vast amounts from the very banks into which this Tk 20,000 crore will be channelled for reforms?
No progressive force can be found in the country now
In seeking an answer to the question of which path Bangladesh is on, we must examine the clear objective of establishing a powerful, prosperous, and democratic state. Mere protest and resistance against malevolent forces yield no significant benefit; at best, they may only replace one corrupt power with another. Constructive thought and action are necessary. We must break the existing laws, regulations, and structures to establish better ones, not to perpetuate disorder. We need to break down the old to build anew, not just to destroy. The focus now must be on building.
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.
Monetary policy should focus on enhancing tax collection
The first six-month monetary policy for the upcoming financial year (2024-2025) is scheduled to be announced in the first fortnight of July. Bangladesh Bank has nearly completed the preliminary work for formulating this policy. However, there is still uncertainty regarding the specific characteristics of the proposed monetary policy.
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.
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).
Market-based liberalisation of foreign exchange rates and reality
The International Monetary Fund (IMF) suggested the implementation of a flexible currency exchange rate for Bangladesh during a virtual press conference on April 30, coinciding with the release of the Regional Economic Outlook for Asia Pacific countries. This recommendation aligns with the IMF's stance advocating for market-based exchange rates over the past eighteen months. The IMF contends that adopting a market-based currency exchange rate in Bangladesh would yield improvements across various sectors, notably bolstering foreign exchange reserves.