Information mishap at Bangladesh Bank: Debapriya Bhattacharya

Bangladesh Bank was previously seen as a bastion of information security, but now concerns over mishandling prevail, as indicated by Dr. Debapriya Bhattacharya, renowned economist and fellow of the Center for Policy Dialogue (CPD).

At the "Mojammel Hussain Memorial Lecture" organized by the Economic Reporters‍‍` Forum (ERF) in Dhaka on Tuesday, May 7, these remarks were made.

Questioning the situation at the Bangladesh Bank, Debapriya Bhattacharya raised concerns, stating, "It is a national institution. However, journalists are not allowed access there. What kind of significant harm will occur if information is disclosed? Are economic journalists dangerous?"

Addressing journalists, he said, "You are important people, and by controlling information resources at the Central Bank, they are indicating their respect for you."

Furthermore, he stated, "Journalists are not allowed entry into the Bangladesh Bank. What message does this convey? If something untoward is happening there and it is exposed to the public, significant harm will be done. These perpetrators are the economic hitmen of Bangladesh."

Debapriya Bhattacharya added, "We used to take pride in never defaulting on foreign loans. But now, despite importing oil, we cannot repay debts. Foreigners cannot make profits, airlines‍‍` businessmen are not making money."

Earlier this week, CPD fellow Dr. Debapriya Bhattacharya and the Citizen‍‍`s Platform highlighted three key risks in the upcoming budget, reflecting concerns voiced by the public.

For more reading: Budget in complex situation, poses 3 risks: Debapriya Bhattacharya

Explaining the situation, the economist said, "It has shattered the pride. All this information is provided by the Bangladesh Bank. Entry is prohibited there. It means ‍‍`keep out‍‍`. Now, whether it‍‍`s lentils or beans or any other lentil, that‍‍`s the point to understand now. The country is heading towards El Dorado. The government talks about a digital and smart Bangladesh. At this time, information insecurity is entirely confrontational."

He alleged that even representatives are not being provided with information at the event. Debapriya Bhattacharya said, "Representatives also do not have the authority to obtain information. Their suffering is not less than that of journalists. As representatives are weak, they cannot speak openly in front of us."

This economist also believes that the country‍‍`s policy leadership has weakened. He said, "No one can be found to explain the policy."

He also raised allegations of lack of policy coordination in the country. He said, "There is political weakness in tackling this lack of coordination in facing challenges. Even after the Central Bank‍‍`s directives, why did the ownership of a bank change?"

The event was attended by special guests, including the editor of the English daily Financial Express, Shamsul Haque Zahid, under the leadership of ERF Editor Abul Kashem and organization President Refayet Ullah Mirdha.