'Capital flight to hurt attaining SDGs'
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Friday
February 03, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
FRIDAY, FEBRUARY 03, 2023
'Capital flight to hurt attaining SDGs'

Economy

TBS Report
20 February, 2020, 09:30 pm
Last modified: 20 February, 2020, 11:25 pm

Related News

  • SDG advocate Queen Mathilde to visit Bangladesh 6-8 February
  • 'Tea workers still not visible in national policies'
  • Bangladesh remains keen to work with international community: Shahriar Alam
  • Public-private partnerships can play a key role in SDG financing
  • Public-private partnership is key to SDGs financing: LGRD minister

'Capital flight to hurt attaining SDGs'

In 2030, it is predicted that over $14 billion will be leaving the country through unofficial channels

TBS Report
20 February, 2020, 09:30 pm
Last modified: 20 February, 2020, 11:25 pm
'Capital flight to hurt attaining SDGs'

Illicit financial outflows could dent Bangladesh's ability to implement the sustainable development goals (SDGs), according to a report.

It said over $9.6 billion had gone out of Bangladesh in 2013.

Citizen's Platform for SDGs, Bangladesh made this disclosure in its report titled "Four years of SDGs in Bangladesh: Measuring progress and charting the path forward." It was launched in Dhaka today.

"If illicit outflows from Bangladesh continue as usual, then in 2030, it is predicted that over $14 billion will be leaving the country through unofficial channels," the report said.

These trends will significantly hamper Bangladesh's capability to implement the SDGs by 2030. 

The Centre for Policy Dialogue (CPD) organised the event in association with The Asia Foundation, Bangladesh, Citizen's Platform for SDGs and the Swiss Agency for Development and Cooperation. Another report on the non-state actors as delivery partners in implementing SDGs was also released at the event.

Dr Debapriya Bhattacharya, distinguished fellow of CPD and convener of the Citizen's Platform for SDGs, Bangladesh chaired the programme attended by policymakers and experts. 

Lawmaker Abul Kalam Azad, chairman of the parliamentary standing committee on the Ministry of Planning, attended as the chief guest.

The report came up with the findings after analysing six goals – quality education (Goal 4), decent work and economic growth (Goal 8), inequality (Goal 10), climate action (Goal 13), peace and justice (Goal 16) and partnership (Goal 17).

Of these six goals, Bangladesh has had some progress on education, partnership and decent work and economic growth, and the country may achieve the targets within time. 

If the trend of financial outflow continues, Bangladesh may not be able to attain the rest three goals, according to the report. 

Prof Rehman Sobhan, chairman of CPD, said the whole exercise to achieve SDGs should be supervised by the people's representatives in parliament.

"I would suggest the chairman of the parliamentary standing committee [on Minstry of Planning], there should be a full session in parliament on implementation of SDGs and perhaps it may meet twice a year," he suggested.

Prior to this, the parliamentary committee should initiate a series of hearings, involving both government and civil society entities, he added.

The hearing in parliament would demonstrate high level credibility for the state and its commitment to SDGs, he said.

Dr Debapriya Bhattacharya said Bangladesh lags behind in targets of climate change action, peace and justice, and reducing inequality.

He said any country suffering fragility in the areas of rule of law, inequality and climate action will never be able to sustain development. He recommended taking proper measures in this regard in the upcoming eighth five-year plan.

Dr Fahmida Khatun, executive director of CPD, said lack of data is a major obstacle to measuring the achievement of SDGs. 

She said among the 50 indicators which have data for review, Bangladesh is doing very well in only six indicators. The country could achieve the target within 2030 by giving more efforts in 18 indicators. 

But it may be very difficult to achieve the targets in the remaining 26 indicators.

Dr Iftekharuzzaman, executive director of Transparency International Bangladesh (TIB), said state and non-state actors have to work together to achieve SDGs, and the government should engage and recognise the role of non-state actors, such as the private sector and NGOs.

Professor Mustafizur Rahman, distinguished fellow of CPD, said that state actors alone are not capable of achieving the SDGs. The government should include private sector, NGOs, INGOs, civil society, media, politicians and public representatives in the process of achieving SDGs. 

But none of the government documents recognises the role of non-state actors, he remarked.

He also said efforts jointly made by the public and private sectors could generate additional value. 

Mia Seppo, UN Resident Coordinator and Representative of UNDP in Bangladesh, also spoke on the occasion.
 

Top News

SDG / Illicit financial outflows

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • International Monetary Fund logo : AP via UNB
    IMF sets time-bound reform agenda as it releases first tranche of loan
  • Shipped Bhola gas to cost higher, yet cheaper than spot LNG
    Shipped Bhola gas to cost higher, yet cheaper than spot LNG
  • January exports rise nearly 6% riding on high-value RMG items
    January exports rise nearly 6% riding on high-value RMG items

MOST VIEWED

  • The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
    IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms
  • Cry for dollar for Ramadan imports
    Cry for dollar for Ramadan imports
  • Illustration: TBS
    Biz leaders want crisis management, energy security for survival
  • Infographic: TBS
    Bangladesh in better position than Sri Lanka, Pakistan to navigate forex crisis: UCB Asset Management
  • Reconditioned vehicles running out of stock as traders fail to open LCs
    Reconditioned vehicles running out of stock as traders fail to open LCs
  • Despite downturn 3 dozen listed firms plan Tk7,500cr investment
    Despite downturn 3 dozen listed firms plan Tk7,500cr investment

Related News

  • SDG advocate Queen Mathilde to visit Bangladesh 6-8 February
  • 'Tea workers still not visible in national policies'
  • Bangladesh remains keen to work with international community: Shahriar Alam
  • Public-private partnerships can play a key role in SDG financing
  • Public-private partnership is key to SDGs financing: LGRD minister

Features

Six Jeep Wranglers and a special XJ Jeep Cherokee set out into the depths of Lalakhal, Sylhet for an experience of a lifetime. Photo: Ahbaar Mohammad

Jeep Life Bangladesh: A club for Jeep owners to harness the power of their vehicles

16h | Wheels
While the Padma bridge in operation is changing the lives of millions in the south for the better, passenger rush to Shimulia ghat died down. Photo: Masum Billah

How are the Shimulia ghat businesses faring after Padma bridge?

18h | Panorama
After so many investments going embarrassingly wrong, as was the case with Sam Bankman-Fried, perhaps tech investors’ preference for less experience will wane. Photo: Bloomberg

Are you the next Steve Jobs? Good luck raising money in 2023

18h | Panorama
An elderly couple's lonely battle to save Dhaka's trees

An elderly couple's lonely battle to save Dhaka's trees

1d | Panorama

More Videos from TBS

A proper price formula can help investors to plan big

A proper price formula can help investors to plan big

8h | TBS Round Table
Rumors about Sarika that everyone thinks are true

Rumors about Sarika that everyone thinks are true

6h | TBS Entertainment
Mugging rife in Tejgaon, murder in Wari

Mugging rife in Tejgaon, murder in Wari

8h | TBS Current Affairs
What secrets are hidden behind Adani's wealth?

What secrets are hidden behind Adani's wealth?

7h | TBS Stories

Most Read

1
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

2
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

3
Photo: Collected
Energy

8 Ctg power plants out of production

4
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

5
Photo: Collected
Court

Japanese mother gets guardianship of daughters, free to leave country

6
Fund cut as Dhaka's fast-track transit projects on slow spending lane
Infrastructure

Fund cut as Dhaka's fast-track transit projects on slow spending lane

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]