Capital can quickly exit the market, putting pressure on Bangladesh’s foreign reserves and currency stability.

The revised gross forex reserves target for the current fiscal year ending on June 30 was $29.1 billion. It stood at $24.23 billion on June 5, according to the traditional calculation of the Bangladesh Bank. To meet the goal, another $4.87 billion will have to be added to the reserves by this month.

The proposed national budget for fiscal 2024-25 lacks concrete measures for addressing the current economic concerns, such as runaway inflation and depleting foreign exchange reserves, the Centre for Policy Dialogue (CPD) said yesterday.

Bangladesh’s next national election is only a few months away, and the market is already very hot.

Punishing two officials for fulfilling their duty is deeply concerning. The report provided an accurate picture of the energy and electricity sector, which apparently goes against the views of the current regime.

Bangladesh is hoping to get $5.5 billion from the International Monetary Fund and the World Bank as budget support, which will help the country shore up its depleting foreign currency reserves.