No time to read? Just listen to the news!
TL;DR
- Bangladesh’s actual reserve stands at $20.50 billion, according to IMF definition, as stated by Bangladesh Bank Governor Dr. Ahsan H Mansur
- Reserves did not fall to zero during Sheikh Hasina’s government, and have increased by $300 million in the last week, with Bangladesh Bank purchasing $50 million daily
- Inflation target set to 7-8% in next 5 months and 4-5% within the following year
- Bangladesh Bank had been providing net reserve calculations to IMF, despite keeping them hidden from the public
Bangladesh Bank Governor Dr. Ahsan H Mansur has recently cleared the confusion in the public mind regarding the country’s actual reserve amount. In a program aired on a New York-based Bangladeshi media outlet on September 5, he stated that according to the International Monetary Fund (IMF) definition, Bangladesh’s current actual reserve stands at $20.50 billion.
The governor mentioned that the notion of reserves falling to zero during Sheikh Hasina’s government is not true. He further informed that the country’s reserves have increased by $300 million in the last week. Since assuming his responsibilities, Bangladesh Bank has not sold a single dollar in the market. Rather, it is purchasing $50 million from the market every day to increase reserves.
Dr. Mansur also shed light on controlling inflation. He stated that the target is to bring inflation within 7 to 8 percent in the next 5 months and then to 4 to 5 percent within the following year.
The governor further mentioned that although Bangladesh Bank had been keeping the net reserve calculations hidden, it was being provided to the International Monetary Fund (IMF).
Source: NTV
