The COVID-19 pandemic is severely impacting the Bangladeshi economy. “The Bangladesh Bank took appropriate steps to ease liquidity conditions and allow the financial sector to support the economy. A gradual increase in exchange rate flexibility should be allowed to adjust to the external shock while preserving foreign reserves,” IMF said. “Once the crisis abates, the authorities are committed to re-focus on addressing banking sector problems, including nonperforming loans and the poor performance of the state-owned commercial banks. They are also committed to ensuring fiscal discipline and debt sustainability by broadening the tax base and strengthening tax administration and compliance.”

Source: bd News24 May 30, 2020 11:48 UTC