WASHINGTON: The International Monetary Fund on Monday ( Sep 30 ) said Bangladesh’s quick formation of an interim government has helped stabilise the country, and that the country’s new authorities have helped address the economy even as challenges remain.
The IMF owner’s assessment, following a Sep 24-30 team visit, even backed Bangladesh authorities ‘ efforts to make financial adjustments in the face of those challenges such as slowing socioeconomic activity, double-digit prices and pressure on foreign exchange reserves, the IMF said in a statement.
The establishment of an interval government has stabilized social and security conditions, fostering a gradual return to normalcy in the economy, they wrote.
The IMF’s evaluation comes after Muhammad Yunus, a Nobel laureate, took office last month after Sheikh Hasina was ousted amid fierce demonstrations.
Following a visit to the nation this month, a US committee also made a pledge of financial support.
IMF officials stated that they would continue to support Bangladesh and its people and do collaborate with them to implement changes to advance its economic plan.
The IMF staff said,” We support the authorities ‘ efforts to initiate policy changes, including continued financial tightening and rationalizing non-priority capital spending, in response to these difficult situation,” adding that declining tax income and spending forces even loom.