Written by The Banking Post
The International Monetary Fund (IMF) has lauded Bangladesh’s recent success in rebuilding its foreign exchange reserves, describing it as a central goal of the IMF-supported reform programme.
Thomas Helbling, Deputy Director of the IMF’s Asia and Pacific Department, said reserve accumulation remains crucial for Bangladesh as the country continues to face balance of payments pressure.
Speaking at a press conference on the Asia-Pacific economic outlook in Hong Kong on Friday (October 24), Helbling said, “The target of rebuilding reserves is important to reduce vulnerabilities in the balance of payments.”
He particularly welcomed Bangladesh Bank’s progress in this regard.
Helbling also mentioned that an IMF mission will visit Bangladesh later this month to conduct the fifth review under the $5.5 billion loan programme.
“The mission will hold discussions with the authorities, and we’ll see what the outcome is,” he said, adding that the team will carry out field-level assessments.
He further noted that the IMF will evaluate whether Bangladesh’s recent policy actions align with the central bank’s announced exchange rate framework.
According to IMF estimates, Bangladesh’s foreign exchange reserves stood at $27.35 billion as of October 16 this year, up from $19.93 billion a year earlier.
