Bangladesh Economy

[BananaRepublic]

https://twitter.com/x/status/1833911646001270965

Given BD is now UNDER US CONTROL - Russia and China will demand prompt payment.

Sri Lanka and Pakistan also faced the same consequences.

All actions have consequences!

 

[LeonBlack08]

Bangladesh settles $1.37b ACU payments for Jul-Aug imports

Before the payment on Monday, the gross foreign exchange reserves, calculated under the IMF’s BPM6 standard, stood at $20.8 billion, but after the settlement, they fell to $19.46 billion

www.tbsnews.net

 

[LeonBlack08]

Chinese Home Joy Socks to invest $50m in Bepza EZ for setting up socks and garments industry​

The company will create employment opportunities for 4,980 Bangladeshi nationals​

Chinese Home Joy Socks to invest $50m in Bepza EZ for setting up socks and garments industry

The company will create employment opportunities for 4,980 Bangladeshi nationals

www.tbsnews.net

 

[FHN]

https://twitter.com/x/status/1832724251431809195

Vietnam & Bangladesh having friendlier policies toward Chinese businesses mean that those countries got the businesses.

 

[BananaRepublic]

https://twitter.com/x/status/1832724251431809195

Vietnam & Bangladesh having friendlier policies toward Chinese businesses mean that those countries got the businesses.

India massively subsidises their uncompetitive garment industry through the freight equalisation charge.

It means the cowbelt doesn’t pay market rate for freight.

But this is not sustainable.

 

[Strider]

Massive 5tcf gas resource found in Bhola, valued at Tk6.5 lakh crore

The joint study began in 2020 and concluded in June 2024. The findings have been submitted to the Ministry of Power, Energy and Mineral Resources, the Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), and Bapex



Read more:

Massive 5tcf gas resource found in Bhola, valued at Tk6.5 lakh crore

The joint study began in 2020 and concluded in June 2024. The findings have been submitted to the Ministry of Power, Energy and Mineral Resources, the Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), and Bapex

www.tbsnews.net

 

[Afif]

World Bank commits additional $2 billion in support to Bangladesh

The chief adviser told the World Bank country head that the bank must have flexibility to fund Bangladesh's reforms and help restart a new journey after 15 years of "extreme misgovernance"

www.tbsnews.net

 

[AbuShalehRumi]

Islamic Development Bank to provide Bangladesh with $5bn support over next 3yrs.

 

[AbuShalehRumi]

Germany to provide €1b to support renewable energy in Bangladesh.

 

[AbuShalehRumi]

Forex reserves surpass $24bln.

 

[Circadian Rhythm]

Bangladesh's external debt increased to $103 billion at the end of June this year after falling slightly in March

External debt crosses $100b again

Bangladesh’s external debt increased to $103 billion at the end of June this year after falling slightly in March.

www.thedailystar.net

@UKBengali

 

[LeonBlack08]

Nine banks face over Tk18,000cr in liquidity crisis

Bangladesh Bank Executive Director and spokesperson Husne Ara Shikha said, “As the account balances are changing daily, it’s difficult to provide bank-specific details. However, the combined deficit of these banks is around Tk18,000 crore.”

www.tbsnews.net

18000 Cr BDT = 1.5 Billion USD

 

[LeonBlack08]

Repeated unrest in RMG leads to 30% orders shift to other countries

The recurrence of protest causing shutdown of dozens of factories in the last two days took the apparel industry owners by surprise as they started feeling the pinch as 30% orders for the next season have already shifted to other countries. Just a week after apparel industrial zones in the...

www.tbsnews.net

 

[UKBengali]

Well, looks like the doom and gloom over BD export discrepancy should die down now.

Interim government thinks that total BD exports(goods + services) should hit nearly 60 billion US dollars this fiscal.

So much for AL "cooking" the figures since 2018 according to some 'experts" here.

@BananaRepublic
@uksyl

Bangladesh sets USD 50 billion export target for FY 2024-25

Bangladesh has set an ambitious export target of USD 50 billion for goods in the fiscal year 2024-25, representing a 12.4% growth compared to the previous year. Additionally, the target for the service sector has been set at USD 7.5 billion, with a growth goal of 13.6%.

www.tbsnews.net

"Bangladesh sets USD 50 billion export target for FY 2024-25​

​

Bangladesh has set an ambitious export target of USD 50 billion for goods in the fiscal year 2024-25, representing a 12.4% growth compared to the previous year. Additionally, the target for the service sector has been set at USD 7.5 billion, with a growth goal of 13.6%. These targets were determined during a board meeting on 8 September 2024, chaired by the Hon'ble Advisor on Finance and Commerce, and based on the export earnings and trends of the fiscal year 2023-24.​

Revised export data for fiscal years 2022-23 and 2023-24 were also presented, with figures adjusted to USD 46.6 billion and USD 44.5 billion, respectively, following guidelines from the International Monetary Fund (IMF). These revisions addressed discrepancies between the data from the Export Promotion Bureau (EPB) and Bangladesh Bank. The difference was attributed to factors such as duplicate export entries, miscalculations, and sample items included without export value."

 

[LeonBlack08]

Well, looks like the doom and gloom over BD export discrepancy should die down now.

Interim government thinks that total BD exports(goods + services) should hit nearly 60 billion US dollars this fiscal.

So much for AL "cooking" the figures sinch 2018 according to some 'experts" here.

@BananaRepublic
@uksyl

Bangladesh sets USD 50 billion export target for FY 2024-25

Bangladesh has set an ambitious export target of USD 50 billion for goods in the fiscal year 2024-25, representing a 12.4% growth compared to the previous year. Additionally, the target for the service sector has been set at USD 7.5 billion, with a growth goal of 13.6%.

www.tbsnews.net

"Bangladesh sets USD 50 billion export target for FY 2024-25​

​

Bangladesh has set an ambitious export target of USD 50 billion for goods in the fiscal year 2024-25, representing a 12.4% growth compared to the previous year. Additionally, the target for the service sector has been set at USD 7.5 billion, with a growth goal of 13.6%. These targets were determined during a board meeting on 8 September 2024, chaired by the Hon'ble Advisor on Finance and Commerce, and based on the export earnings and trends of the fiscal year 2023-24.​

Revised export data for fiscal years 2022-23 and 2023-24 were also presented, with figures adjusted to USD 46.6 billion and USD 44.5 billion, respectively, following guidelines from the International Monetary Fund (IMF). These revisions addressed discrepancies between the data from the Export Promotion Bureau (EPB) and Bangladesh Bank. The difference was attributed to factors such as duplicate export entries, miscalculations, and sample items included without export value."

The accusations for cooking the books were always targeted towards forex reserves and GDP size, backed with proper research. Not export figures.

At least I haven't seen anyone point to export figures.