Bank & Finance

IMF sets new target Staff Correspondent: The International Monetary Fund (IMF) has set a target of $17.78 billion foreign exchange net reserves in Bangladesh Bank for December. Earlier, the net foreign exchange reserve target for December was $26.8 billion.In the first review report published today (December 15), the IMF has…

Staff Correspondent: The International Monetary Fund (IMF) has waived the second tranche of $689.8 million in favor of Bangladesh. The money was deposited into the central bank’s account in Washington on Friday. In this, the country’s foreign currency net reserve increased to $1,986 million and gross reserve increased to $2,532…

Farhad Chowdhury: Despite various challenges, Bangladesh has met most of the International Monetary Fund’s (IMF) conditions for the second tranche loan. However, it could not meet the very important targets of foreign exchange reserve conservation and tax collection. In this case, the multinational lender has waived off about $690 million…

Mahfuja Mukul: The domestic and foreign debt of the government is gradually increasing. At the same time, the debt servicing cost is increasing. According to the International Monetary Fund (IMF), the government spent more than $23.32 billion on debt repayment in the fiscal year 2022-23. According to the latest announced…

Incurred Tk 236 cr loss in 4-month Staff Correspondent: State-owned non-banking financial institutions and one of the largest institutional investors in the capital market, Investment Corporation of Bangladesh (ICB), is facing a deepening cash crunch. The reasons for this have been identified as the slowdown in the capital market and…

Mahfuz Emran: The due date for repayment of short-term loans taken against imports of essential goods has been extended by another six months. These outstanding loans were to be paid by December 31. Entrepreneurs are unable to pay these outstanding loans due to financial and dollar crisis. Due to this,…

Mahfuz Emran: In the last fiscal year 2022-23, Bangladesh exported goods worth more than $55 billion to the world market. This information was mentioned in the statistics published by the Export Promotion Bureau (EPB) last August. However, yesterday, Bangladesh Bank released the updated statistical report titled ‘Annual Export Receipt of…

Acute liquidity crisisStaff Correspondent: Banks are already in liquidity crunch due to the contractionary monetary policy of the central bank. Meanwhile, the government has to give loans to meet the daily expenses. In such a situation, commercial banks and financial institutions are taking short-term loans from the money market to…

Dr. Salehuddin Ahmed: Foreign debt has emerged as a major liability reaching $100 billion. Paying off this debt will not be easy. At the current level of reserves and in the future if the reserves do not increase, foreign direct investment or FDI, remittances do not increase, it will be…

Mahfuz Emran: In this period of high inflation, people’s saving power has decreased. Due to lack of trust, many are withdrawing money from the bank and keeping it in their hands. Again, against the sale of dollars from the reserve, market money is coming up. All in all, the banking…