It’s almost impossible to meet IMF’s forex reserve target: Kamal

  • January 9, 2024

AHM Mustafa Kamal, Bangladesh’s Finance Minister, said on Tuesday that it would close to impossible for the country to meet the International Monetary Fund (IMF) goal for its foreign exchange reserves. But he also said that Bangladesh’s economy was strong, both in terms of net and gross measures. He also said that the amount of remittance to the country could be doubled.

The minister committed to keep the funds above $30 billion this year when he talked to the media for the first time since the 12th national parliamentary election. To reach this goal, the government needs to open up the economy’s possible areas. Kamal also said that more money should be collected from taxes should be a top concern.

The minister said that Bangladesh aims to have the 20th biggest economy by 2041 and that non-performing loans (NPLs) have gone down a lot.

In response to another question, he talked about how important inflation is for economic growth. He said that people who don’t know much about economics often take part in talks about inflation. Kamal also said that the prime minister will choose the new government’s finance minister.