Bangladesh Bank (BB) is moving forward cautiously with optimism to reduce the stress on the economy, which was created by the US dollar crisis and higher inflation. The central bank underscored such observations in a quarterly report on the economy. It said the economy remained under stress from external effects, including
Tag: Dollar crisis
Dollar crisis impacts border trade with Myanmar
The ongoing dollar shortage has severely affected border trade between Bangladesh and neighbouring Myanmar. The Bangladesh Embassy in Myanmar issued official documents where it highlighted the potential consequences of the greenback crisis, suggesting that it may lead to an increase in illegal money transactions such as hundi. The Bangladesh Embassy in Myanmar
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
Dollar crisis threatens Rampal power plant’s operation
The 1320 MW Rampal power plant has resumed its partial production, but officials still worry about its uninterrupted operation due to dollar crisis that may again disrupt the import of coal, the plant's main fuel. The Unit-1 of the coal-fired plant resumed production from Wednesday after a month-long shutdown caused
Dollar Crisis: Power cut hits Khulna after halting Rampal plant
Khulna division has been experiencing acute load shedding even in the winter due to suspension of power production at Rampal Power Plant amid shortage of coal caused by the dollar crisis.The production came to a halt on January 14, only after 27 days the coal-fired plant in Bagerhat started electricity
Dollar Crisis: Payra power plant to face closure
Failure to clear dues of foreign shippers risks external trade
The country’s external trade is at risk due to failure in clearing dues worth USD 150 million of the foreign shipping companies because of the ongoing dollar crisis, local shippers said at a roundtable meeting on Sunday. They said the country’s export-import activities would suffer badly if the local shipping lines
Dollar crisis: BB allows return of six banks’ treasury chiefs
The Bangladesh Bank has allowed the return of the treasury chiefs of six banks, who were removed from their positions for making "excessive profits by trading dollars, ignoring banking norms amid a volatile foreign exchange market." Also, the banks have been asked to spend 50 percent of the profits that they