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Bangladesh seeks IMF aid: How badly has Iran war hit its economy?

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The International Monetary Fund warns that Iran war could trigger a spike in global debt levels.

The International Monetary Fund (IMF) reports that Bangladesh has requested a new assistance programme as it struggles with the economic fallout of the United States-Israel war on Iran.

We take a look at what assistance Bangladesh has sought, the South Asian country’s history with the IMF and how the war has hit its economy.

The IMF’s mission chief for Bangladesh, Ivo Krznar, announced on Tuesday that Bangladesh had requested a new IMF-supported programme.

“IMF staff are in discussions with the authorities on their reform agenda and policy priorities,” Krznar said in a statement.

“The IMF remains a committed partner to Bangladesh in its efforts to secure lasting macroeconomic and financial stability, strengthen resilience, and support strong, inclusive growth.”

Neither side disclosed the size or precise terms of the requested financial aid package.

However, in March, the government of Bangladesh said it was seeking $2bn in loans from various donors as it grappled with an energy crisis caused by the war on Iran.

The Iran war, which began on February 28 when the US and Israel launched strikes on Iran, has caused a worldwide energy crisis and sent fuel prices soaring. On April 8, a temporary ceasefire was reached, but a durable peace agreement remains elusive. Furthermore, the Strait of Hormuz – through which before the war one-fifth of the world’s oil and natural gas supplies were shipped, largely to Asian countries – remains under the control of Iran while the US has a naval blockade of Iranian ports in place. All this has caused major disruptions to energy supplies worldwide and caused the price of oil to rise to about $100 a barrel, compared with its pre-war price of about $66.

Bangladesh, home to 170 million people, imports 95 percent of the oil and liquefied natural gas (LNG) it needs to meet its energy needs. Demand is especially high during the summer when cooling is required. Much of these imports come from the Middle East.

Dhaka has already taken measures to curb fuel consumption, including halting production at most fertiliser factories. On April 19, Bangladesh raised fuel prices by 10 percent to 15 percent, citing the global crude price surge. It raised the price of petrol from $0.95 per litre to $1.10 per litre. Diesel and kerosene prices also rose.

However, the economic fallout in Bangladesh from the Iran war is not limited to its energy supplies.

The ready‑made garment industry, which accounts for more than 80 percent of Bangladesh’s export earnings, has also been hit. Bangladesh’s factories import much of their raw materials from China. The shipments are routed via the Red Sea and the Middle East, so recent shipping disruptions have pushed up import costs. Sayeed Ahmed Chowdhury, director of the fabrics manufacturer Square Denim, told the Bangladesh newspaper The Financial Express that he expected work orders to decline by about 20 to 25 percent in the next season.

After the outbreak of the war, several airlines cancelled flights in March. As a result, shipments of garments destined for Zara owner Inditex and other major clothing retailers were stuck at airports in Bangladesh and India.

The disruptions to supply chains have impacted other industries in Bangladesh as well. Raw material prices for plastic products have also risen.

Rising crude oil prices have caused the price of resin, derived from crude oil and a key raw material for plastic, to spike. Bangladesh’s Daily Star newspaper reported that resin, which used to cost about $900 to $950 per tonne, is now selling for closer to $1,500 to $1,600.

Bangladesh’s external debt has risen in recent years as the government borrowed more to fund infrastructure projects and shore up its balance of payments, leaving the country with a moderate but growing debt burden and higher foreign‑currency repayment pressures, according to IMF assessments.

In December, Bangladesh’s foreign debt rose to $113.5bn, compared with $112.2bn in the previous quarter, according to data from the London-headquartered market intelligence firm ISI.

In 2024, the World Bank and IMF classified Bangladesh as being at low risk of external debt distress as its debt load represented about 22 percent of its gross national income. This is likely to change as fallout from the Iran war takes hold.

Bangladesh is already in the middle of a $5.7bn IMF programme that began in 2023 and was due to run for four years.

In a virtual meeting last week between Bangladesh Finance and Planning Minister Amir Khasru Mahmud Chowdhury and IMF Deputy Managing Director Nigel Clarke, both sides agreed to move quickly to put a new programme in place, the Ministry of Finance said in a statement on Monday.

Last week, the World Bank said it had approved a $350m loan to help Bangladesh manage rising fuel import costs and strengthen its energy security after severe shortages caused by the Iran war.

Before the start of the Iran war, countries across Africa, Asia, Latin America, the Caribbean, the Pacific and Central Europe were already grappling with heavy external debt burdens following the COVID‑19 pandemic, climate‑related disasters, higher food and energy prices, and rising global interest rates.

Sri Lanka, for instance, suffered a financial collapse in 2022 after years of unsustainable borrowing and poor fiscal management. In 2023, it secured about $3bn in support from the IMF under a four‑year programme and reached a debt‑restructuring deal with a group of creditors that included China, India and Japan. By 2024, Sri Lanka’s external debt stood at about 59 percent of its gross national income, according to World Bank data.

In April, the IMF warned that the Iran war risks triggering an increase in debt levels worldwide. Its report estimated that global gross government debt rose to almost 94 percent of the world’s gross domestic product last year and warned it is on track to reach 100 percent by 2029, a level that has not been seen since the aftermath of World War II.

📰 மூல செய்தி (Source): https://www.aljazeera.com/economy/2026/5/27/bangladesh-seeks-imf-aid-how-badly-has-iran-war-hit-its-economy?traffic_source=rss

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Police in Belfast use water cannon as anti-immigrant unrest continues

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Clashes come as family of knife attack victim calls for calm and condemns violence targeting immigrants.

Unrest in Northern Ireland: Second day of anti-immigration protests in Belfast

Police in the United Kingdom city of Belfast have used water cannon to disperse dozens of far-right protesters during a second night of unrest triggered by a knife attack involving a Sudanese refugee.

The clashes on Wednesday came as the family of the stabbing victim appealed for calm and condemned the wave of anti-immigrant violence in the city in Northern Ireland.

Police said the protesters threw “missiles” such as rocks and bottles at officers, while images from the scene showed several fires burning on the streets.

Police said officers deployed “water cannon in an attempt to maintain public order”.

But the unrest was markedly less severe than on Tuesday evening, when hundreds of masked men burned families out of their homes and set vehicles alight.

“We want to make it absolutely clear that overnight unrest is not welcome, and peaceful protest is the only way forward,” the family of the victim, Stephen Ogilvie, said in a statement.

“We have many migrants who make a deeply valuable contribution to our country… We do not want this terrible tragedy to be used to divide people or fuel hostility,” it said.

The family added that Ogilvie, who lost an eye and suffered serious wounds to his neck and face, was in a stable condition.

Their appeal came as the suspect in the attack, a 30-year-old ‌Sudanese national named Hadi Alodid, appeared in court on charges including attempted murder.

He was remanded in custody, and the case was adjourned to July 8.

Videos of the stabbing attack circulated online all day on Tuesday, sparking calls on social media for violent protest. Police had to help one family escape from a burning house, according to the Reuters news agency, while several cars and a bus were set on fire and reduced to shells.

Local politicians and a pastor said many of those targeted were Black.

UK minister Ruth Anderson said at least 27 people were made homeless in Belfast “because people went door-to-door to try and target foreign nationals”.

Resident Jamie Corry, 33, said he could only watch on as his house went up in flames.

“I was actually standing right there watching my whole house just go up, slowly but surely,” he told Reuters. “I told them and all, when they were lighting a car up on fire, ‘that’s my property, that’s my property’… and they still didn’t care.”

The attack comes at a time of heightened tensions in the UK following the murder of a student in Southampton who was handcuffed by police as he lay dying from stab wounds after his killer, a Sikh man, had falsely alleged a racist attack.

Tech billionaire Elon Musk reposted many messages that blamed migration on violence in the UK, sharing a post that argued that the “very deliberate policy of mass uncontrolled immigration and open borders” is increasing tensions.

Amid calls from Musk, other far-right agitators like Tommy Robinson called for more protests on Wednesday, Northern Ireland’s police chief said ⁠an extra 200 officers were being deployed on the streets.

“These idiots didn’t just target ethnic minority groups… they targeted society,” Chief ⁠Constable Jon Boutcher said of Tuesday night’s rioters.

Officers had to take a family that included a two-month-old baby to safety during Tuesday’s violence, which he branded “a huge act of self-harm by mindless idiots”.

Speaking in London, UK Prime Minister Keir Starmer said the knife attack raised serious questions, but that “driving people out of their homes is not … the right way to respond”.

He condemned the unrest as “shocking and completely unacceptable”.

Anna Turley, the chairwoman of the UK’s governing Labour Party, meanwhile, said that online platforms were “playing a role in driving” the unrest and suggested Musk was one of the “bad faith actors” inflaming tensions.

The United Nations human rights chief Volker Turk condemned what he called “incitement” on social media. “Dehumanisation of whole groups within a society is totally unacceptable and frankly despicable,” he told reporters in Geneva, adding that the violence in both Northern Ireland and Southampton had been “really shocking”.

Social media providers, he insisted, must take seriously their responsibility to prevent hate speech and incitement to violence.

Immigration has historically been low in Northern Ireland, partly due to the three-decade conflict between mainly Catholic Irish nationalists seeking Irish unity and predominantly Protestant pro-British “loyalists” wanting to stay in the UK and the British military.

However, migration has increased in recent years, and there has been an increasing sentiment against it in both Northern Ireland and parts of the Republic of Ireland.

📰 மூல செய்தி (Source): https://www.aljazeera.com/news/2026/6/11/police-in-belfast-use-water-cannon-as-anti-immigrant-unrest-continues?traffic_source=rss

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Dahiyeh crowds rally in favour of Iranian support against Israel

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Dahiyeh crowds rally in favour of Iranian support against Israel

Defiant crowds of Hezbollah supporters rallied in Beirut’s Dahiyeh neighbourhood to support Iran’s role in standing against Israel, and rejecting efforts to separate Lebanon’s war from Iran’s. Al Jazeera’s Heidi Pett reports.

📰 மூல செய்தி (Source): https://www.aljazeera.com/video/newsfeed/2026/6/11/dahiyeh-crowds-rally-in-favour-of-iranian-support-against-israel?traffic_source=rss

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OpenAI says China-based actors stoking opposition to AI data centres

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AI company says ChatGPT accounts sought to ‘exploit and amplify existing public concerns’ about energy prices.

China-based actors are likely behind the use of ChatGPT for “covert influence operations” aimed at stoking opposition to data centres in the United States, OpenAI has said.

In a research report released on Wednesday, the company behind the world’s most popular AI chatbot said it had banned a cluster of accounts likely based in China for attempting to “manipulate a legitimate debate about American AI”.

OpenAI, whose release of ChatGPT in 2022 kicked off a global frenzy around AI, said the accounts were used to generate social media comments and images that blamed data centres for rising electricity prices in communities across the US.

Among other content, the accounts generated a comic strip showing a cigar-chomping businessman holding bags marked with dollar signs as a family reacted in shock to their electricity bill, according to the San Francisco-based company.

OpenAI said a second cluster of accounts had generated content casting US tariffs as an effort to “dominate technological competition” with China, and specified that the material should not mention Chinese leader Xi Jinping.

While the campaign sought to “exploit and amplify existing public concerns” about energy prices, OpenAI found no evidence that it had a “meaningful” influence, the company said.

“Foreign influence operations have long sought to latch onto existing local issues and sincerely held beliefs, using them to build credibility, amplify divisions or exacerbate public distrust,” the ChatGPT creator said.

“In this case, the operators attempted to covertly insert themselves into an ongoing American debate about the future of the country’s AI capabilities while hiding who they were and what motivated them.”

China’s embassy in Washington, DC, said it was not familiar with the report but that it opposed “any groundless attacks or smears against China”.

“AI is profoundly changing the way people work and live. It is a new frontier for all humanity,” an embassy spokesperson said in a statement provided to Al Jazeera.

“China believes in a people-centered approach to AI and advocates openness and inclusiveness to ensure AI is a force for good and for all.”

OpenAI is the latest prominent voice to suggest foreign influence could be behind opposition to AI in the US.

In May, Secretary of the Interior Doug Burgum told a policy event hosted by Breitbart News that the public’s increasingly negative sentiment towards the construction of data centres was not “organic” and could, in some cases, be linked to “foreign-sourced dark money”.

Darren Linvill, a professor at Clemson University in Clemson, South Carolina, who studies foreign influence campaigns, expressed doubt that the campaign identified by OpenAI or any other coordinated effort would have much impact on the “volume or tone” of the public debate.

“My team is very familiar with the work of various Chinese influence actors, and the AI work China has done to date has been interesting but not effective,” Linvill told Al Jazeera.

“It’s getting better with each passing month, and I’m concerned what they may be capable of in the future, but they aren’t there yet.”

“If China were really serious about meaningfully influencing the discourse around data centres using AI chat bots, I question if they would use OpenAI to do it,” Linvill added.

Opposition to the construction of data centres has been on the rise in the US, with at least 36 projects blocked or delayed between May 2024 and June 2025, according to Data Center Watch, a research project by AI security company 10a Labs.

In March, Senator Bernie Sanders and House Representative Alexandria Ocasio-Cortez announced legislation that would impose a moratorium on new data centres until the introduction of national safeguards to mitigate the risks of AI.

The legislation has little chance of becoming law in the near future due to US President Donald Trump’s laissez-faire approach to AI regulation and Republicans’ control of both chambers of Congress.

Opposition to data centres has been driven in part by the huge amounts of energy they consume supporting the computing power needed to train and run AI models such as ChatGPT.

The facilities accounted for 1.5 percent of global electricity use in 2024, with consumption growing 12 percent annually over the last five years, according to the International Energy Agency.

📰 மூல செய்தி (Source): https://www.aljazeera.com/economy/2026/6/11/openai-says-china-based-actors-stoking-opposition-to-ai-data-centres?traffic_source=rss

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