Consumers feeling pinch of higher spice prices

Prices of almost all spices have doubled in a year, and consumers are particularly feeling the pinch ahead of Eid-ul-Azha when consumption of spices is high. Despite sufficient stock and import of essential spices, traders at both wholesale and retail level hiked the prices of onion, ginger, garlic, cardamom, cinnamon, clove,

Inflation, dollar crisis major challenges for economy

Preparations for the budget for the 2023-24 fiscal must balance expectations in an election year with the conditions of the International Monetary Fund (IMF), and tackle inflation, foreign exchange crisis and revenue shortfall. Balancing public satisfaction and protecting the economy is a major issue. Economists say it has been seen in

Proposed amendments to banking act not enough for governance

The proposed Bank Company (Amendment) Act-2023 still falls short in some crucial ways necessary to establish accountability and good governance in the banking sector, according to experts. The draft of the amended act includes a 'wilful defaulter' clause, which economists welcome. Under the clause, such wilful defaulters can be subjected to

Indo-Bangla trade using rupee lieu of USD start soon

Bangladesh could soon start trading with India using rupee instead of US dollar, trial for which has been done by Bangladesh Bank recently. The ministry of commerce has placed a written recommendation at the last cabinet meeting regarding the possibility and opportunity of using rupee instead of dollar. Currently Bangladesh exports goods

17 banks facing severe liquidity crunch after violating lending limits

Despite Bangladesh Bank's initiatives to promote good governance in the banking sector, 17 banks have recently violated their loan disbursement limits, and are now embroiled in a severe liquidity crisis. Having been over-aggressive in providing loans, they are now unable to recover the loans and attract new deposits as desired, according

People forced to spend less to cope with price hike

The prices of all kinds of chicken, meat, egg, and fish increased while vegetables and other essential commodity prices remained stable at a higher price in the kitchen market in the capital on Friday. People of limited income groups and job holders are frustrated and back home with half of their

IMF loan can be touchstone of financial sector reforms

The government's successful negotiation of a $4.7 billion, approved at the Executive Council of the International Monetary Fund (IMF), will raise confidence in the macro economy amid a volatile foreign exchange market, analysts said.They said that the IMF loan program can help bring stability to the macroeconomic situation in two