BB to assess costs of political violence

Bangladesh Bank (BB) will assess the loss to the political violence during the ongoing countrywide blockade and recurring strikes (hartals), a central bank official told BSS Tuesday.

"The central bank will assess the losses on monthly basis and will compare the losses in current situation with the cost of political violence in 2013", BB executive directive M Mahfuzur Rahman said.

Rahman, also the spokesperson of the central bank, said all the banks have been instructed to send information to BB on a prescribed form by February 19, providing necessary information about economic damage of the political violence and the data about allocation of loan, disbursement, recovery and outstanding amount.

The country's leading think tank, Centre for Policy Dialogue (CPD), estimated that the loss during the shutdowns and blockade from July to December, 2013 was Tk 500 billion (50,000 crore).

The country's leading trade body, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) already assessed economic losses to the current countrywide blockade and shutdowns and in their estimation the losses would so far be no less than Tk 750 billion.