Forex reserves slip below $40b for first time in two years

[Bilal9]

@Bengal71

Ekattor Dada,

UKB Dada (@UKBengali) is right. BD's energy needs are immense and its ecology will not support huge power capacities on its own soil. It imports oil and gas from elsewhere and it wont harm to import power from India (solar, wind, thermal) and Nepal Bhutan (hydro).

India has little to gain by cutting off BDs energy supply. Besides India isnt doing BD a favour by exporting energy- it gains hard cash plus for Nepal and Bhutan power it will get some transmission charges as well.

Regards

Every sovereign country needs to ensure non-dependency on foreign sources for its power and energy needs.

Promises coming from India don't matter and will not be heeded.

 

[Bilal9]

How will nuclear fusion help in soilless cultivation, by reducing the cost of electricity? I don't think you can grow anything except a few plants using soilless tech.
Will love to know more.

You CAN grow vegetables on water. Using floating Hyacinth compost as base. This practice is several centuries old in Bangladesh.

In 2020, vegetables primary production for Bangladesh was 7.14 million tonnes. Vegetables primary production of Bangladesh increased from 1.14 million tonnes in 1971 to 7.14 million tonnes in 2020 growing at an average annual rate of 4.03%. Although vegetable intake - unlike India, is a lot lower per capita in Bangladesh and of course freshwater fish consumption are higher.

Vegetable Consumption Per Capita in India

We like numbers. We collect them, analyse them and look for stories they might be hiding... We aim to put useful data and interesting reports under a single roof to save you hours of searching and disappointment at poor results. We want to be able to offer our products to a wide...

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Freshwater Fish Consumption Per Capita in India

We like numbers. We collect them, analyse them and look for stories they might be hiding... We aim to put useful data and interesting reports under a single roof to save you hours of searching and disappointment at poor results. We want to be able to offer our products to a wide...

www.helgilibrary.com

Vegetable Consumption Per Capita in Bangladesh

We like numbers. We collect them, analyse them and look for stories they might be hiding... We aim to put useful data and interesting reports under a single roof to save you hours of searching and disappointment at poor results. We want to be able to offer our products to a wide...

www.helgilibrary.com

Freshwater Fish Consumption Per Capita in Bangladesh

We like numbers. We collect them, analyse them and look for stories they might be hiding... We aim to put useful data and interesting reports under a single roof to save you hours of searching and disappointment at poor results. We want to be able to offer our products to a wide...

www.helgilibrary.com

 

[PadmaBridge]

Oil price is below 100 US dollars a barrel again.

Gas prices are around 3-4 times higher than a year ago though and that will impact the gas fired power plants as BD is no longer self-sufficient in this resource.


Roopur reactor 1(1.2GW) will come online in 2023 and reactor 2(1.2GW) will come online in 2024. With hydroelectric from Nepal flowing from 2026(0.5GW) things will slowly start to get better even if fuel prices stay relatively high throughout this decade. More hydroelectric power is likely to flow from Nepal and potentially Bhutan later on this decade.

BD should be relatively ok unlike some other developing countries.

PS - These high fuel prices will almost certainly mean that the 2nd nuclear power plant is ready and operational by 2030.

Where are the geniuses who opposed roopur

Hasina is a visionary leader in an otherwise myopic region.

 

[Rushd Alam]

I really doubt that there is so much corruption that it is stopping BD from fully exploiting what it has in terms of gas reserves. Anyway it is a dumb idea to burn gas to generate electricity to start off with as it should be restricted to household cooking and industrial uses.

It should be ok after this year as nuclear and hydroelectric will start coming online progressively over the rest of the decade.

I know bro, I also had the same impression that we do not have the gas. When I read more found some discrepancy. Its matter of energy security and unfortunately relient on foreign sources will always put energy security at risk. i will not call it corruption but lobby influence. Gas is one of the cleanest fuel to burn and we shoud have it in abundance. Only 13 exploration since 2000 then 5 coal fields unused is the recipe for disaster we are facing now.

 

[SanirMalon]

Forex always remains the best on the trading market.

 

[SanirMalon]

Forex always remains the best on the trading market.

Struggling for each client, Forex brokers reduce the limit of the minimum amount to be deposited, provide high-quality trading software, reduce the percentage of commission (some even cancel it altogether). One more important function of brokers became granting traders possibility to test trading strategies on a demo account, which differs from the real one only by the absence of withdrawal from the system. My forexstore gave me a controlling package of instruments. And I try to let him off the hook.

 

[mb444]

Where are the geniuses who opposed roopur

Hasina is a visionary leader in an otherwise myopic region.

Roopur was a very old project and Hasina get her dues for implementing it. Hopefully it will come online without further delay.

However having said that Hasina must share blame for the current crisis.

Post BNP and military regime BD was left with very low electricity generation. Hasina took a bold decision to rectify this position quickly via expensive means.

Where she fell down is to properly plan and implement a long term policy to wean the nation of this short term expensive fix.

We should have explored more and developed more gas fields and set up gas based power stations. We also should have developed more coal based power stations rather than changing policy stance last year to take coal out of the equation.

This has been an expensive policy failure. It is time to learn from this mistake. Hasina must lay the ground to guarantee energy security for the nation by putting together far sighted programme that exploits the resources we have. Status quo is not viable.

 

[Bilal9]

Roopur was a very old project and Hasina get her dues for implementing it. Hopefully it will come online without further delay.

However having said that Hasina must share blame for the current crisis.

Post BNP and military regime BD was left with very low electricity generation. Hasina took a bold decision to rectify this position quickly via expensive means.

Where she fell down is to properly plan and implement a long term policy to wean the nation of this short term expensive fix.

We should have explored more and developed more gas fields and set up gas based power stations. We also should have developed more coal based power stations rather than changing policy stance last year to take coal out of the equation.

This has been an expensive policy failure. It is time to learn from this mistake. Hasina must lay the ground to guarantee energy security for the nation by putting together far sighted programme that exploits the resources we have. Status quo is not viable.

You are probably expecting too much from her.

Like expecting a grade school teacher to act like a PhD level researcher and offer solutions to that level.

She understands very little about running a country and can manage other people even less.

Just because cadre goondas are circling her as a figurehead does not say much about her governance capabilities

It just speaks volumes about how immature a polity we have in this country.

I had enough of her tomfoolery when she suggested that she should be given the Nobel prize and also suggested dropping Khaleda Zia from the Padma Bridge.

Uneducated idiot.

 

[mb444]

You are probably expecting too much from her.

Like expecting a grade school teacher to act like a PhD level researcher and offer solutions to that level.

She understands very little about running a country and can manage other people even less.

Just because cadre goondas are circling her as a figurehead does not say much about her governance capabilities

It just speaks volumes about how immature a polity we have in this country.

I had enough of her tomfoolery when she suggested that she should be given the Nobel prize and also suggested dropping Khaleda Zia from the Padma Bridge.

Uneducated idiot.

Her record is mixed i would agree.

Unfortunately she shares the BAL disease of thinking too much of themselves. Thankfully the population does not buy any of the nonsense.

 

[bluesky]

The dollar reserves have come down to $35.7 billion. This is what Manabzamin wrote today.

The GoB has already sold more than $5,000 million already in the current 2022-2023 FY. And Bangladesh Bank has already sold $10.16 billion in 2022.

This is happening without making any new import/ purchases of oil and gas.

 

[mb444]

The dollar reserves have come down to $35.7 billion. This is what Manabzamin wrote today.

The GoB has already sold more than $5,000 million already in the current 2022-2023 FY. And Bangladesh Bank has already sold $10.16 billion in 2022.

This is happening without making any new import/ purchases of oil and gas.

Probably will fall further. Until Fed and US reverses current monetary policy USD will continue to flow out of all developing countries.

BB needs to let the dollar freefloat. Not possible to avoid the current situation.... BD just needs to accept reserves will be heavily depleted

 

[SoulSpokesman]

Until Fed and US reverses current monetary policy USD will continue to flow out of all developing countries. BB needs to let the dollar freefloat. Not possible to avoid the current situation.... BD just needs to accept reserves will be heavily depleted

Have to agree with @mb444 here. Central Banks of EMs simply need to give up and wait for cyclical correction.

Regards

 

[Bilal9]

The dollar reserves have come down to $35.7 billion. This is what Manabzamin wrote today.

The GoB has already sold more than $5,000 million already in the current 2022-2023 FY. And Bangladesh Bank has already sold $10.16 billion in 2022.

This is happening without making any new import/ purchases of oil and gas.

Apnar prediction shotto hoilo bhai. Amader UK BAL fanboi economist bhaiera koi?

 

[SoulSpokesman]

@Bilal9

Bilalbhai,

Apnar prediction shotto hoilo bhai. Amader UK BAL fanboi economist bhaiera koi?

Let's keep things in perspective. The decline in Taka and the fall in reserves of BD are no worse than those of other developing nations.

Regards

 

[bluesky]

Apnar prediction shotto hoilo bhai. Amader UK BAL fanboi economist bhaiera koi?

Whatever @UKBengali writes, he has little knowledge about the National Economic Development Process of a poor country like Bangladesh. So, he keeps on blabbering stupid things as if by saying so he can tilt up the economy.

The pet Hasinanomics is wrong. No country has ever developed by borrowing others' money and wasting it on projects from where the top people steal a part of it.

No country has EVER developed this way. All countries developed by their own manpower, technologies, and know-how. A bridge here, a rail line there with borrowed money, and done by foreign contractors is no recipe for development.

I again say the most important thing is to industrialize.