Bangladesh’s policy responses to mitigate external imbalances have so far been inadequate although risks have deepened for the country owing to geopolitical tensions, said the World Bank today.

The key to the ACC’s effectiveness in delivering its mandate is independence, especially when setting the example that, in handling allegations of corruption, it is guided by equality before law, and not by the status or identity of the individual depending on their political, governmental, or other connections.

Malpass, appointed by former US President Donald Trump, will depart the multilateral development bank, which provides billions of dollars a year in funding for developing economies, by the end of June.

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The agricultural and cereal prices were 2 per cent higher than two weeks ago

Bangladesh has averted a potential major crisis by reaching out to the International Monetary Fund (IMF) in a timely manner, said Kaushik Basu, a former chief economist of the World Bank.

World Bank Managing Director for Operations Axel van Trotsenburg today reaffirmed the global lender’s strong support for Bangladesh to help achieve its vision of achieving upper-middle income status by 2031.

The country’s apparel makers have sought cooperation from the World Bank (WB) for the development of Bangladesh’s garment sector.

Bangladesh should be careful about falling into the middle-income trap, said Axel van Trotsenburg, the World Bank’s managing director of operations.

The World Bank will continue its cooperation and support in the development of the country’s ICT sector.

Agricultural, cereal, and export prices have remained relatively stable in the one month to January 17, said the Food Security Update of the World Bank.

The political climate is brewing steam. Here's a quick round-up of all the major stories today. 

The World Bank yesterday delivered yet another bad news for the economy as the Washington-based multilateral lender pared back Bangladesh’s growth forecast for this fiscal year by 1.5 percent to 5.2 percent.

The government continues to borrow from Bangladesh Bank on a large scale as commercial banks are now unable to finance the state due to liquidity crunch.

Outward remittances from Bangladesh through legal channels crossed the $100-million mark for the first time in 2021 as more foreigners are working in the fast-growing economy, data from a global organisation showed.

The winning team is expected to pitch their idea at the World Bank Headquarters.

Martin Raiser, the World Bank’s vice president for the South Asia Region, arrives in Dhaka tomorrow to discuss further reforms with the government for the support package sought to help Bangladesh tide over the period of global economic turmoil.

The government should stop fund wastage in the energy sector and eventually phase out subsidies, which have created pressure on the public coffer, according to economists and entrepreneurs.

Bangladesh Bank is anticipating the pressure on the balance of payments will blow over by the end of this fiscal year thanks to hearty assistance from development partners –-- an outlook termed wishful by economists.

Agricultural prices are expected to decline by 5 per cent next year, the World Bank said in its latest Commodity Markets Outlook report.