Even if the Iran war is prolonged, there is no concern over reserves and imports: Governor

Central Bank Governor Md. Mostakur Rahman assured on Sunday (March 29) that Bangladesh has sufficient foreign exchange reserves, currently standing at $35 billion

Central Bank Governor Md. Mostakur Rahman assured on Sunday (March 29) that Bangladesh has sufficient foreign exchange reserves, currently standing at $35 billion, to manage the economic shocks of the Middle East conflict for several months.

Despite rising fuel costs, the Governor emphasized prioritizing price stability over short-term growth, stating that interest rates will not be lowered due to high inflation.

He outlined key priorities including recovering stolen assets and keeping the financial sector free from political influence.

While the bank expects $1.5 billion from the IMF and $1 billion from the ADB by June, officials warned of risks like potential declines in remittances and increased subsidy pressures if the war persists.

Additionally, a 600-crore BDT start-up fund will launch in June, and the 'Bangla QR' code will become mandatory from July 1 to boost cashless transactions and revenue.