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Bangladesh's Economy Shows Stability Amid Challenges: BB Governor
Bangladesh Bank Governor Dr. Ahsan H. Mansur stated on Thursday that the country’s foreign exchange reserves remain stable and are gradually increasing, despite delays in the disbursement of loan installments from the International Monetary Fund (IMF).
Speaking at an event organized by the Economic Reporters Forum (ERF) in Dhaka, Dr. Mansur highlighted the central bank’s key goal of reducing inflation to a target range of 5 to 7 percent by the end of this year. He emphasized that the efforts to stabilize prices are ongoing, with the central bank working to implement strategic measures.
While acknowledging the slowdown in private sector credit growth, Dr. Mansur attributed this to a combination of declining bank deposits and increased government borrowing from the banking system. However, he noted positive developments, as Treasury bill bond rates have fallen from 12.5 percent to below 10 percent. "This indicates a reduction in government borrowing from the banking sector, which should help foster increased private sector credit growth in the coming months," he said.
Dr. Mansur reassured that Bangladesh’s macroeconomic position has stabilized, pointing to a steady exchange rate and a surplus in the balance of payments as key indicators of progress. He described these achievements as particularly significant in light of recent political changes, which have posed challenges for the economy.
The Governor's remarks underscored the resilience of the nation's economy and its ability to adapt to global and domestic pressures, setting a positive tone for the country’s economic outlook in the coming months.