Reserves of the country are decreasing as expenditure is more than foreign exchange income. Even with austerity, the pressure on reserves cannot be reduced. Bangladesh Bank has been continuously supplying dollars to the market from the reserves to pay the import bill. As a result, the country's reserves are currently falling to 23.26 billion US dollars.
This information is learnt from the relevant sources of Bangladesh Bank.
According to Bangladesh Bank, reserves are shown as 29.53 billion dollars or 2 thousand 953 crore 63 lakh dollars. According to the IMF, this country's reserves (23.26 billion dollars) can cover 4 months of import expenses.
Earlier, on July 13, for the first time, the central bank disclosed the amount of reserves according to the IMF's calculations. At that time, the reserve was 23.57 billion dollars and according to the central bank's own calculations, the reserve was 29.97 billion dollars.
One of the conditions of the IMF loan of 4.7 billion dollars to Bangladesh was the calculation of the country's foreign exchange reserves using the BPM-6 method. It was supposed to be published by June this year. In the light of that condition, Bangladesh Bank is publishing this account from the middle of July this month.
According to the IMF's BPM-6 formula last June, the country's foreign currency reserve was 24.75 billion dollars. At the same time, according to Bangladesh Bank's calculations, the amount of reserves was 31.2 billion dollars. Bangladesh has already received the first installment of the IMF loan of 4.7 billion dollars.