May 7, 2023 5:07 PM

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Bangladesh growth and foreign currency reserves facing inflationary pressures, elevated volatility and slowdown in trading partners: IMF

The International Monetary Fund (IMF) team which visited Bangladesh between April 25 to 7th May to discuss recent macroeconomic development and the implementation of the USD 4 billion loan has flagged concern about some macro economic parameters of the country. Issuing a statement on the conclusion of the visit, IMF Mission Chief for Bangladesh Rahul Anand said Bangladesh remains one of the fastest growing economies in the Asia-Pacific region despite a challenging backdrop. However, its growth and foreign currency reserve is weighed down by persistent inflationary pressures, elevated volatility of global financial conditions, and slowdown in major advanced trading partners.<br />''       <br />''The IMF statement issued in Dhaka on Sunday said that they took stock of the progress made toward meeting key commitments under the Fund-supported program. This will be formally assessed in the review of the Extended Credit Facility (ECF) / Extended Fund Facility (EFF) / Resilience and Sustainability Facility (RSF) arrangements, which is expected to be undertaken later this year.<br />''       <br />''The IMF team held meetings with Bangladesh Bank Governor Abdur Rouf Talukder, Finance Secretary Fatima Yasmin, and other senior government and Bangladesh Bank officials to discuss recent macroeconomic and financial sector developments.

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