Metropolis Report-
According to the International Monetary Fund (IMF), Bangladesh’s foreign exchange reserves were valued at $23.56 billion as of Thursday, said the central bank.
The sum is equal to Bangladesh’s import expenses for four months. It follows the BB’s agreement to build and report the official gross international reserves following the IMF’s Balance of Payments and International Investment Position Manual (BPM6).
If the central bank’s customary calculating technique is used, the reserves were $29.97 billion. The IMF has requested the central bank to reveal the actual reserves after subtracting the money allotted for the Export Development Fund (EDF) and other programs.
Due to rising import expenses, fewer than anticipated export revenues, and a decrease in remittance inflows, the nation’s foreign exchange reserve has been declining for more than a year.
