Once ridiculed as the “bottomless basket”, Bangladesh has recently been awarded the status of a lower middle income country by the World Bank (WB) as the Gross National Income (GNI) per capita of Bangladesh exceeded the $1,046 threshold. It is indeed a great moment of redemption and pride for the nation. However, it is not… Read more »
The Finance Minister
Economic growth rates and their projections always attract headlines. There is almost universal belief in the “goodness” of GDP growth. In fact, in 1991
Notwithstanding how Bangladesh Bank (BB) chose to describe it — cautious, accommodative, etc. — there is little doubt that the monetary policy of the country was expansionary until about last one year.
The submission of an annual budget to the nation by the government for the forthcoming fiscal year is a routine exercise in developing countries.
Last time an AL-led government was in power it went on a spree granting licenses for the establishment of new banks. Within four years (1997-2000) it added 19 domestic private banks and four foreign banks to the 28 banks that already existed at the time.