IMF team to visit Dhaka for $2.39 billion loan review
IMF team to visit Dhaka for $2.39 billion loan review

An International Monetary Fund (IMF) delegation is set to visit Dhaka in April to assess the progress made by Bangladesh in fulfilling conditions for the disbursement of $2.39 billion. The visit, scheduled for April 5, is part of the $4.7 billion loan program that began in 2023. The IMF team will...

Record remittance raises reserve to US$ 25 billion
Record remittance raises reserve to US$ 25 billion

Foreign currency reserves have surpassed the US$25 billion mark before the end of March, thanks to a record inflow of remittances this month. The countrys gross reserves have risen to US$25.44 billion, according to data released by Bangladesh Bank (BB) on Thursday night. The surge followed a...

IMF defers $645m loan disbursement to June
IMF defers $645m loan disbursement to June

The IMF will discuss disbursing $645 as part of a $4.7 billion loan package for Bangladesh in June instead of March as both the Prof Yunus-led government and the Washington-based lender want more time for Bangladesh to meet bailout conditions. Finance Adviser Salehduddin Ahmed revealed the...

Saudi, IMF discuss recovery of conflict-affected economies
Saudi, IMF discuss recovery of conflict-affected economies

At the inaugural annual AlUla Conference for Emerging Market Economies, Saudi Arabias Ministry of Finance and the International Monetary Fund (IMF) co-hosted a high-level roundtable to address the recovery of conflict-affected economies in the Middle East, with a special focus on Syria. The session...

UK central bank's Bailey warns of economic nationalism risks
UK central bank's Bailey warns of economic nationalism risks

Bank of England Governor Andrew Bailey has urged global financial leaders, particularly the United States and China, to resist economic nationalism. In a speech released ahead of Donald Trumps inauguration as U.S. president, Bailey emphasized the importance of international cooperation in...

Recession in Business, entrepreneurs seek six-month grace period
Recession in Business, entrepreneurs seek six-month grace period

As the government walks in line with the International Monetary Funds (IMF) conditions, the amount of non-performing loans (NPLs) increases, turning businessmen into defaulter in comparatively shorter period. Businessmen are not taking this positively and they believe that at least six-month...

No hope on the horizon
No hope on the horizon

From business leaders to ordinary citizens, everyone in Bangladesh is feeling the weight of an escalating crisis. As Abu Ahmed, a former professor at Dhaka University, put it, There is no good news for the common people. Only desperation is growing. More than five and a half months have passed...

IMF predicts steady global growth, disinflation for 2025
IMF predicts steady global growth, disinflation for 2025

The International Monetary Fund (IMF) expects steady global economic growth and ongoing disinflation in 2025, IMF Managing Director Kristalina Georgieva revealed ahead of the updated World Economic Outlook release on January 17, reports Reuters. Georgieva highlighted that the U.S. economy is...

Higher VAT to add pressure on industries
Higher VAT to add pressure on industries

The interim governments decision to increase VAT on 65 itemsincluding medicine, powdered milk, biscuits, juice, fruits, soap, and sweetsmidway through the 202425 fiscal year has sparked outrage among businessmen. Stakeholders expressed frustration over the lack of prior consultation, warning...

VAT burden will upsurge pressure
VAT burden will upsurge pressure

The interim government has decided to increase VAT [Value Added Tax] rate in the middle of the fiscal year aiming to bolster revenue earnings and satisfy IMF bailout conditions. Instead of providing relief from the pressure of inflation, the government decided to increase the cost of living of the...

Minimal progress, excessive hype
Minimal progress, excessive hype

Despite widespread calls to recover money smuggled out of the country over the years, progress has been minimal. International organizations such as the World Bank, IMF, GFI, and ADB have publicly pledged support, but tangible results remain elusive. To date, the limited progress made has mainly...