Bangladesh's Dollar Reserve Crisis Blamed on Oil Companies by PM's Energy Adviser
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The Prime Minister's Energy Adviser Tawfiq-e-Elahi Chowdhury has attributed the dollar reserve crisis in Bangladesh to global oil companies, claiming that they have 'robbed Bangladesh of $14 billion in 3 years' . Speaking at a seminar on the ruling Awami League's economic manifesto, Tawfiq stated that the economic pressure on Bangladesh was triggered by the payment for fuel oil, which led to the devaluation of the taka against the dollar and a current account deficit . He further alleged that the West was using its stance on democracy, along with oil and the dollar, as a 'weapon' .
The mismanagement of the economy over a long period has led to the current crisis in foreign currency reserves in Bangladesh . Businesses are struggling to import raw materials and intermediate goods due to the...
#newstr #Bangladesh #Kenya #DollarReserveCrisis #OilCompanies #Energy