The International Monetary Fund (IMF) noted numerous steps taken by the government to address macroeconomic issues and noted that the Bangladeshi economy is headed in the right direction.
“I think, the economy is on right track in terms of meeting the objective of programme, getting inflation under control and addressing macroeconomic challenges given in difficult global environment,” IMF Director for the Asia and Pacific Department (APD) Krishna Srinivasan said here today.
At a news conference on the “Economic Outlook for Asia Pacific” as part of the World Bank Group and IMF Annual Meetings, the IMF director made this statement.
Responding to a question, Krishna Srinivasan said the authorities in Bangladesh have taken significant measures to address macroeconomic challenges.
“They have tightened monetary policy to reduce inflation. They have allowed more flexible exchange rate,” he added.
Srinivasan concentrated on boosting revenue collection to support both infrastructure goals and development goals.
He added that the global financial crisis has caused difficulties in every country in the region, including Bangladesh.
He stated that the nations must step up their efforts to advance changes that will boost growth.
He noted that increasing government revenue ratios from their current low levels will enable more spending on crucial requirements like infrastructure and education while containing public debt.
The future of Asia’s economy, according to him, depends on enhancing multilateral and regional collaboration and reducing the effects of geo-economic fragmentation.
Accordingly, he stated that in order to increase both local and foreign investment throughout the area, changes that reduce nontariff trade barriers, increase connectivity, and enhance business environments are crucial.
