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Bangladesh is facing most critical phase in its economy November 27, 2007

Posted by bdoza in BANGLADESH, ECONOMY.
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[News & Link] ‘Bangladesh is passing through the most critical and challenging period since the independence because of the extensive damage caused by the natural calamities and an increase in the oil price in the international market.’ said Asian Development Bank  Country Director Hua Du yesterday. She said that natural calamities took its toll on countries growth bringing it below 6 percent in the current fiscal year compared to 6.5 % last year. ADP quarterly report identifies fall in the external demand for garments is another reason. The extensive anticorruption drive and eviction of illegal business caused some fear and uncertainity in the business and investor community. The ADP report said a sharp decline in number of projects and investments registered with the Board of Investment (BOI) showed entrepreneurs’ reluctance in new ventures in the changed environment. “Production loss because of floods is estimated at 1.3 million tonnes. The mid-November severe cyclone also damaged 38 per cent of aman areas in the coastal districts,” the report says. ”

For details:Link: ADP quarterly report

An ordinary citizen

Links:

1) Food security at stake

2) Microcredit leaders mull writing off TK 600 cr loan

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