The falling foreign exchange reserves and the ever-rising defaulted loans are very concerning for the economy, and the government should respond fast to avoid a looming crisis, eminent economist Prof Rehman Sobhan said yesterday.
In Bangladesh, the primary reason behind excessive bad loans is a general lack of governance and, in particular, the inability to enforce banking regulations, which breeds corruption and moral hazard.
The Bangladesh Bank is not presenting the complete picture of non-performing loans (NPLs) in our banking sector, because there are some other loans that also qualify as NPLs that are not being counted, such as loan write-offs and risky loans.
Instead of superficially looking at the numbers and making excuses, the Bangladesh Bank should have observed the trend and character of surging risky loans in the country.
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