Dhaka, Nov 30 (V7N) – Finance Adviser Dr. Salehuddin Ahmed has announced that Bangladesh's economy is showing signs of stabilization, with foreign currency reserves experiencing positive growth.

Speaking at a business conference organized by the Dhaka Chamber of Commerce and Industry (DCCI) on Saturday, Dr. Salehuddin credited the encouraging responses from international partner organizations for supporting the government's economic measures.

Addressing the lingering effects of past governance, he said, “Rectifying the irregularities and corruption of the last 15 years is not something that can be achieved within a few months. However, measures are in place to prevent future money laundering.”

Highlighting recent interventions, he mentioned the provision of Tk22,000 crore to stabilize banks. “Although the central bank governor was initially hesitant, I emphasized the need for this action. Reports about printing new currency have emerged, but printing money is a natural process as currency depreciates over time. However, this is not akin to the previous practice of printing Tk60,000 crore,” he clarified.

Dr. Salehuddin also reassured that steps are being taken to ensure private sector credit availability remains stable, despite a slight decline. He added that the policy rate will not be increased for now to maintain the credit flow.

He emphasized the importance of separating revenue collection from policymaking within the National Board of Revenue (NBR) and assured that Bangladesh's transition from Least Developed Country (LDC) status would not negatively affect the garment industry.

END/MSS/AJ