IMF praises Bangladesh’s rise in foreign reserves
The International Monetary Fund praised Bangladesh Bank for building its foreign currency holdings to $27.35 billion by mid-October, up from $19.93 billion a year earlier. Thomas Helbling, deputy director for the Asia-Pacific region, told reporters on Friday in Hong Kong that reserve growth remains central to the $5.5 billion assistance program as the nation manages payment balance strains.
An IMF team will arrive this month to conduct the fifth program review and meet with government officials, Helbling said. The fund will examine whether central bank market operations match its stated currency policies.
Bangladesh accumulated reserves through stronger inflows than outflows, combined with direct purchases by monetary authorities. Helbling emphasized that larger reserves help reduce vulnerabilities tied to international payment obligations.
