The central bank boss told a business conference that the country's financial system is getting its act together after some serious problems, even though there's still a ton of mess to clean up. The governor said the exchange rate stopped bouncing around like crazy, and foreign banks that bailed on Bangladesh earlier are back to doing normal business again.
He mentioned that the dollar shortage is over, and import numbers through the main port are hitting record levels. But the loan default situation is completely wrecked, with bad loans possibly sitting at 35% of everything, and he thinks it'll take a decade to fix that disaster. Interest rates are staying high because inflation hasn't dropped enough yet, and the government keeps borrowing from banks, which is making everything harder.
He mentioned that the dollar shortage is over, and import numbers through the main port are hitting record levels. But the loan default situation is completely wrecked, with bad loans possibly sitting at 35% of everything, and he thinks it'll take a decade to fix that disaster. Interest rates are staying high because inflation hasn't dropped enough yet, and the government keeps borrowing from banks, which is making everything harder.
