প্রকাশ: 14/10/2023
Mentioning
various measures of the government to address macroeconomic challenges, the
International Monetary Fund (IMF) has observed that Bangladesh's economy is on
the right track.
"I think,
the economy is on the right track in terms of meeting the objectives, 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 in Marrakesh, Morocco today.
The IMF
director said this while speaking at a press conference on 'Economic Outlook
for Asia Pacific' as part of the Annual Meetings of the World Bank Group and
IMF.
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
focused on increasing revenue collection to support both development objectives
and infrastructure objectives.
He mentioned that every country in the region including Bangladesh has been facing challenges due to the global crisis. 'The countries must redouble their efforts to advance growth-enhancing reforms', he said.
Raising government revenue ratios from low levels would allow for additional spending on important needs such as education and infrastructure, while keeping public debt in check, he added.
He said strengthening multilateral and regional cooperation and mitigating the effects of geo-economic fragmentation are vital for Asia's economic outlook in the coming years.
To that end, he said, reforms that lower nontariff trade barriers, boost connectivity, and improve business environments are essential to attract more foreign and domestic investment across the region.
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