Finally it was known what is the actual reserve of the country
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Bangladesh Bank Governor Ahsan H Mansoor
After the fall of Sheikh Hasina's government, everyone's question was how much is the real reserve of the country. Finally, Bangladesh Bank Governor Ahsan H Mansoor has informed about the country's expendable foreign currency reserves.
In response to a question at an event named Khaled Muhiuddin in an address on Thursday (August 5) night, he said, currently our reserves amount to 20.5 billion dollars. This is according to the International Monetary Fund (IMF) definition. Not according to the previous government's definition.
In response to journalist Khaled Muhiuddin's question about how much Bangladesh's reserves are at the moment, the governor of Bangladesh Bank said that the reserve has increased by 300 million dollars in the last one week. And after I took charge of the central bank, we have not sold a single dollar in the market. We are rather buying reserves. Every day we buy 50 million dollars from the market.
He further said, "Our aim is to bring inflation down to a level within the next 4-5 months." Likes are between 7 and 8 percent, bringing it to 4/5 percent within the next one year.
The central bank has been hiding that account for so long. However, even if the net or real reserve account was not disclosed, it was given to the International Monetary Fund-IMF.
Many gave the idea that during the Sheikh Hasina government the reserve has come down to zero. Many of you are doing good work, but you are not entirely responsible for this 20.5 billion dollar reserve. In response to Khaled Muhiuddin's question, Ahsan H. Mansoor said that it is not true that the reserve quota fell to zero during Sheikh Hasina's government. However, the Sheikh Hasina government was following the advice of the IMF in the end and took many good policies.
On June 24, the IMF approved the third tranche concession under the 4.7 billion dollars loan agreement for Bangladesh. Earlier, in February last year, Bangladesh received 47 crore 63 lakh dollar in the first installment of the loan approved by the organization. And last December received the second installment, amounting to 68 crore 10 lakh dollars. Now, as a result of the third tranche concession, Bangladesh has received a total of 231 crore dollars from the IMF in three installments. The remaining 239 crore dollars of the loan will be available in four more installments.
According to the data of Bangladesh Bank, at the end of March of this year, the amount of foreign debt of Bangladesh decreased to 99.30 billion or 9 thousand 930 billion dollars, which was 100.64 billion or 10 thousand 64 crore dollars at the end of last December. In other words, foreign debt decreased by 1.34 billion dollars or 134 crore dollars in three months. If you take a new loan, another 100 crore dollars will be released from the foreign debt.
According to international norms, an average of 40 percent of GDP is debt standard. Now the debt rate of Bangladesh has become 35 percent. This loan rate depends on the capacity of different countries. Currently our debt burden is not less than our capacity. Analysts are of the opinion that it should be thought in advance about how much this pressure can be handled.
