Private sector credit growth in Bangladesh dropped to a 14-month low of 11.23 per cent in April owing to weak credit demand amid the current business slowdown, official figures showed.
Bangladesh Bank yesterday unveiled a wishy-washy monetary policy for the next six months that will prove to be ineffective in tackling the headwinds passing through the economy.
The interest rate cap on loans, the frequent changes to the exchange rate regime and a relaxed attitude to enforcing austerity measures are the major challenges facing Bangladesh in restoring stability in the economy.
