Photo: Collected-
Metropolis Report-
In a press conference organized on Sunday to announce the monetary policy for the second half of the current fiscal year, Bangladesh Bank Governor Abdur Rauf Talukdar said that the country’s economy would remain stable and better days would soon come.
Three challenges have been mentioned in the new monetary policy to turn the Bangladesh economy around. These are the spanning of the Russia-Ukraine war, the US Federal Reserve Bank’s aggressive interest rate hikes, and China’s coronavirus situation.
The governor said in this regard, “I can say for sure, the faster these three challenges are solved, the faster the economy of Bangladesh will bounce.”
Abdur Rauf said that the money laundering incident from the country through over-invoicing and under-invoicing in product import and export is now under control.
“Our first target was to reduce the import during the crisis. It should be equal to exports and remittances. The government and central bank took various steps to meet the target.”
He also said, “As a result of our various initiatives, imports have decreased. Exports and remittances have been higher than imports. The pressure on the dollar has also decreased. The reduction in the opening of import LCs will not affect the import of essential commodities for the upcoming Ramadan. Banks have been instructed accordingly.”
