World Economy

Bangla Banking Crisis Affecting Growth

Bangla Banking Crisis Affecting GrowthBangla Banking Crisis Affecting Growth

The Bangladesh economy has come under pressure owing to crisis in the banking sector, inflationary pressure, soaring import against the backdrop of inadequate export earnings and remittance inflows, the center for policy dialogue said Saturday, Staronline reported. The think-tank said banking sector has been suffering from ‘cronyism”. Disorderliness, irregularities as well as embezzlement of public funds are going on in collusion with influential persons and their patronages, it said. “We do not see any prospect of turnaround in the banking sector as the appetite for reforms remains low during the year ahead of election,” said CPD Executive Director Fahmida Khatun at a press briefing in Dhaka. She said economies of countries such as Indonesia and Argentina suffered through problems in financial sector. “It needs to be seen if we are going in that direction,” said Fahmida at the event organized by the CPD to present the report under its program, Independent Review of Bangladesh’s Development for the first fiscal in the fiscal 2017-18.

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