The start of 2023 brought good news for Bangladesh’s economy – the approval of a $3.3 billion loan agreement by the International Monetary Fund. Despite the global lender’s help, the economy has failed to overcome many of its hurdles. Economist Zaid Bakht, the chairman of Agrani Bank, thinks the efforts to stabilise the economy will gain pace once the new government takes charge after the election. The Russia-Ukraine war’s effects have begun to fade, but falling dollar reserves and runaway inflation headlined Bangladesh’s economy throughout 2023. Import prices rose as the taka devalued against the dollar, fuel prices jumped as subsidies were cut, export growth slowed, and money laundering under the guise of exports haunted the economy.

Source: bd News24 December 31, 2023 16:02 UTC