Foreign exchange reserve again tops US$20b

[idune]

For dedicated Awami lover bdforever and his indian fans, this is how india backed Awami League deceive people with currency reserve figure. By

1) Buying more than half of reserve from market and showing as reserve.
2) Suppressing industrial growth and import of raw materials

Lower import payment for capital machinery and industrialization is detrimental to economy, industrialization and job creation. But offcourse good for Awami League fan club to use it to deceive as "reserve growth".

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Reserve tops $19b as BB buys $7.72b in 19 months
Staff Correspondent

The country’s foreign exchange reserve crossed $19-billion mark on Wednesday for the first time as Bangladesh Bank purchased US dollars worth $7.72 billion in the last fiscal year and seven months and 19 days of the current FY 2013-14.
Higher export earnings against a lower import payment in the last few months played a significant role in increasing the country’s foreign exchange reserve, BB officials said.
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The foreign exchange reserve will increase more in the months to come if imports do not increase in accordance with the demand from the industrial sector, a BB official said.
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BB officials said that the country had been enjoying comfortable foreign exchange reserve since the beginning of the FY13 as imports declined significantly amid political unrest.

Reserve tops $19b as BB buys $7.72b in 19 months

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Import of factory raw materials, capital machinery drops
AKM Zamir Uddin

A file photo shows an employee working at a yarn mill in Dhaka. The import of capital machinery and industrial raw materials plunged in the first 10 months of the current fiscal year.
The import of capital machinery and industrial raw materials plunged in the first 10 months of the current fiscal year, hitting the country’s expected GDP growth for the FY 2012-13, said officials of the Bangladesh Bank.

A BB official told New Age on Thursday that the negative import growth in capital machinery and industrial raw materials had already hit the expected growth of the gross domestic products for the FY 2012-13.


Import of factory raw materials, capital machinery drops
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RMG machinery imports fall 23% in January

The capital machinery imports of Bangladesh’s garment sector declined over 23% in January, shrinking the figure to $23m from $30m last year.

According to the industry insiders, political unrest and labour rights issue disrupted the sector’s expansion plans, which made the capital machinery imports fall.

The total import in 2013 fell 13.5% to $310m from $359m in 2012, said Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

The year 2013 was marked by prolonged political violence and industrial disasters killing over 1,000 workers.

RMG machinery imports fall 23% in January | Dhaka Tribune

 

[eastwatch]

Bangladesh ne 20 billion se jama ker ke kon sa sheer mara

(West) Pakistan se alahida hone ki baad, Bangladesh Bank sirf 32 dollar ka reserve se kaam shuru kia tha. Hamara taraqqi na ho, aur barbadi jaldi ho, is wajha se westwalo ne sare dollar aur metal (Sona, rupa) loot kar le gaye the. Aaj usi mulk ke paas 20b dollar ki moujud hai. Kia khaiyal hai?