The foreign exchange reserves of Bangladesh have gone above $20 billion again, according to central bank data. The export earnings and flow of inward remittances marking Eid-ul-Fitr contributed to the increase in foreign exchange reserves, local news portals said. According to the Bangladesh Bank
Inward remittance has witnessed a downward trend amid the Eid-ul-Fitr festival, with expatriate Bangladeshis remitting $877.10 million in the first 12 days of this April. Earlier in January, remitters sent home $915.91 million in the first 12 days of the month, according to data available with the
The government has earmarked Tk 385 billion for agricultural development over the next three years, targeting an average annual growth of 10 per cent in the sector by the fiscal year 2025-26 (FY26). This investment underscores agriculture's pivotal role in achieving food security and driving equit
Brazilian Foreign Minister Mauro Vieira on Monday said global challenges are interconnected and can only be addressed through reinvigorated multilateralism, reforms and international cooperation. “In that spirit, Brazil’s G20 Presidency believes that the group should work towards
Bangladesh has demonstrated remarkable development progress in the last five decades. The country’s journey from one of the poorest countries at independence to a lower-middle-income nation within four decades is a testament to its resilience, policy decisions, and commitment to reducing pove
A new book, titled ‘Politiconomy of Bangladesh: Essays and Analysis’, has been published recently. Written by Professor Abdullah A Dewan, the book is a collection of the author’s various articles and essays published in three English newspapers in the country earlier, according t
The government is set to increase its recurrent expenditure from 8.7% of the Gross Domestic Product (GDP) in the current fiscal year 2023-24 (FY24) to 9.0% in 2024-25 (FY25), with a further rise to 9.5% in 2025-26 (FY26). This projection marks a notable increase, according to the Finance Division
Bangladesh Bank issued new guidelines on Thursday, dictating that board members and top executives of banks and financial institutions undergoing a merger will not be eligible to occupy positions within the acquiring entity. These guidelines accommodate both consensual and compulsory mergers, emph
State-run Bangladesh Development Bank PLC (BDBL) is set to merge with Sonali Bank, while Rajshahi Krishi Unnayan Bank (RAKUB) will be taken over by Bangladesh Krishi Bank (BKB) as part of disciplining the banking sector. The move follows the merger of private-sector Padma Bank with Exim Bank, repo
Bangladesh Bank (BB) auctioned 25 KG (kilogrammes) of gold for around Tk 180 million for the first time in 16 years on Wednesday. The central bank was keen to auction the gold in late 2022 but failed to find the expected buyers. "Bangladesh Bank sold 25.312 kg of gold in different qualities for T
The International Monetary Fund (IMF) has emphasised meeting the target of the foreign exchange reserve set for March 2024 as a condition of $4.7 billion in loan support for Bangladesh, reports UNB. The global lender upheld its stand during a meeting with Bangladesh Bank officials on Wednesday. Th
Nearly 1.0 million Bangladeshi people are projected to join the ranks of the moderately poor, who earn less than 3.65 US dollars a day in purchasing power parity (PPP), said the World Bank in its Poverty Macro Update on Bangladesh. Released as part of the South Asia Development Update on Tuesday,
Finance minister Abul Hassan Mahmood Ali on Tuesday sought an increase in budgetary support from the Asian Development Bank (ADB), which helped Bangladesh make a quick recovery following the Covid-19 pandemic. He made the request at a meeting with visiting ADB vice-president Fatima Yasmin at the f
