IMF praises Bangladesh for rebuilding foreign exchange reserves

The International Monetary Fund (IMF) has commended Bangladesh Bank for successfully increasing its foreign exchange reserves, calling it a key achievement under the IMF-supported reform programme.

“The accumulation of reserves is a central objective of the IMF programme, especially as Bangladesh continues to face balance of payments pressures,” said Thomas Helbling, deputy director of the IMF’s Asia and Pacific Department, at a press briefing in Hong Kong on Friday.

Helbling emphasized that strengthening reserves is crucial to reducing external vulnerabilities and maintaining macroeconomic stability. He praised the central bank’s recent progress in this regard.

He also confirmed that an IMF mission is scheduled to visit Bangladesh later this month for the fifth review of the country’s $5.5 billion loan programme. “The mission will hold discussions with the authorities, and we will have to see what the outcome is once the review is completed,” he said.

The IMF will assess whether Bangladesh Bank’s interventions in the foreign exchange market are consistent with its declared exchange rate policy.

According to the IMF’s calculation method, Bangladesh’s foreign exchange reserves stood at $27.35 billion as of October 16, up from $19.93 billion a year earlier. The increase reflects higher foreign currency inflows and central bank purchases from the market.