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Regulators

Political mess undermines foreign aid metrics

The political unrest in Bangladesh is viewed with grave concern by donors, which fear this instability could render development programs ineffective and are slowly reducing funds — World Bank data recently revealed a significant drop in foreign aid commitments, an almost 28 percent slip from $1.6 billion in 2013 to $1.2 billion in 2014. Weeks after the Prime Minister Sheikh Hasina was reelected for her second consecutive term as prime minister, the country continues to suffer from political instability which undermines the country’s development progress. foreign aid

BB amends policy on single borrower exposure limit

Bangladesh Bank (BB) has amended its policy on single borrower exposure limit in order to comply with the recently incorporated Section-26 (Kha) of the Banking Companies Act (BCA), 1991 and further improve bank's credit risk management. A circular was issued Thursday in this regard, consolidating all instructions issued so far on single borrower exposure limit, and bringing some changes, reports the Financial Express (FE). Bangladesh BankIn the policy the central bank incorporated the d...

IMF sees global growth, deflation risks rising

lnternational Monetary Fund (IMF) chief Christine Lagarde said yesterday that growth in the global economy was picking up, but warned of the “rising risks” of deflation. “Momentum strengthened in the latter half of 2013, and should strengthen further in 2014 -- largely due to improvements in the advanced economies,” Lagarde said in a speech at the National Press Club in Washington. IMFThe IMF managing director, however, declined to put numbers on the growth rate ahead of next week’s update of the Fund’s offici...

WB predicts GDP growth slow down to 5.7pc

Bangladesh’s economic growth made in October last year remained unchanged as the GDP growth rate will slow down to 5.7 percent against 7.2 percent target in the current fiscal (2013-14) due to political turmoil, says the World Bank (WB). The WB, an international financial institution that provides loans to developing countries for capital programs, came up with the fresh but similar forecast on Wednesday in Washington, reports UNB. wbIn it...

Pvt sector fears credit crunch, wants incentive package

Different business groups have sought a large amount of incentive package worth around Tk 150 billion as a contingency measure to help overcome setbacks in businesses due to the prolonged political crisis. This creates a major challenge before the incumbent government. Economists, however, fear that if the government allocates such a huge contingency fund it would disrupt the financial discipline of the country and would shrink the private sector growth further, reports the Financial Express (FE). bangladesh_bank

Bangladesh key economic indicators – Jan 11

DAILY INDICATORS

Thursday Previous Taka/US $ (inter-bank) 77.75-77.75 77.75-77.75 Call money rate (inter-bank) 06.25-08.00 06.25-08.00 Dhaka Stock Exchange index 4,407.82 4,391.27 --------------------------------------------------------------- indicatorMONTHLY CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Dec. 7.53 7.15 M2 supply (bln taka) (BB) Nov. 6,425.75 6,403.17 Forex reserves ($bln)(BB) Dec. 18.07 17.11 Exports(FOB) ($mln)(BB) Nov. 2,21...
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