Home ›› Economy

Inflation, financial volatility impacting Bangladesh’s growth

Staff Correspondent
07 May 2023 16:09:00 | Update: 07 May 2023 19:16:29
Inflation, financial volatility impacting Bangladesh’s growth

Bangladesh remains one of the fastest growing economies in the Asia-Pacific region against a challenging economic backdrop, but inflationary pressure, global financial volatility, and slowdown in major trading partners continue to impact growth and foreign currency reserves.

An International Monetary Fund (IMF) staff team, led by Rahul Anand, Mission Chief for Bangladesh, conducted a staff visit to Dhaka from April 25 to May 7, to discuss recent macroeconomic developments and implementation of the Fund-supported programme.

Anand made the remark in a statement issued at the conclusion of the visit.

He further said, “During the visit, we discussed recent macroeconomic and financial sector developments. We also took stock of the progress made toward meeting key commitments under the Fund-supported program.

“This will be formally assessed in the first 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.”

He added, “The IMF team held meetings with Bangladesh Bank Governor Abdur Rouf Talukder, Finance Secretary Fatima Yasmin, and other senior government and Bangladesh Bank officials.

“We also met with representatives from the private sector, bilateral donors, and development partners. We would like to thank the authorities for candid discussions and their warm hospitality.”

The IMF looks forward to continuing its engagement in support of Bangladesh and its people, read the statement.