Despite challenges, the development of Bangladesh over the years are definitely quite commendable, but in order to attain the future targets of high-income status and to attain the SDGs, much greater efforts are needed towards inclusive growth.
Recently, policy changes at the central bank have been so enormous that they have already made the old monetary policy largely defunct. The policy changes, if adopted, will deliver not only a new monetary policy, but also a new central bank by knocking down a series of non-market rules – some of which were imposed on them by the finance ministry.
The ongoing dollar crisis in the country will ease by January next year, said Salman F Rahman, private industry and investment adviser to the prime minister.
Businesses in Bangladesh went through a tough time in recent months due to a dearer US dollar that pushed up their costs of raw materials and a rocketing fuel bill that contributed to the surge in operating expenses.
The International Monetary Fund will be coordinating its conditions for the prospective $4.5 billion loan with the World Bank and the Asian Development Bank to accomplish holistic reforms.