Staff correspondent :

Citing the government’s various measures to address macroeconomic challenges, the International Monetary Fund (IMF) has said that Bangladesh’s economy is on the right track.
“I think the economy is on track to meet program objectives, bring inflation under control and address macroeconomic challenges in a tough global environment,” Krishna Srinivasan, Director of the IMF’s Asia and Pacific Department (APD), said here today.
The Director of IMF said this at the press conference on ‘Economic Outlook for Asia Pacific’ on the occasion of World Bank Group and IMF Annual Meeting.
In response to a question, Krishna Srinivasan said that the authorities in Bangladesh have taken important steps to address the macroeconomic challenges.
He added, ‘They tightened monetary policy to reduce inflation and allowed flexible exchange rates.’
Srinivasan emphasized on increasing revenue collection to help achieve goals in both development and infrastructure.
He mentioned that every country in the region including Bangladesh is facing challenges due to the global crisis.
He said every country must redouble its efforts to advance growth-enhancing reforms.
He also said that if the government’s revenue ratio increases from the lowest level, it will be possible to spend more if necessary to meet important needs like education and infrastructure while keeping the government debt under control.
He said strengthening multilateral and regional cooperation and mitigating the effects of geo-economic fragmentation are critical to Asia’s economic outlook in the coming years.
To that end, reforms that reduce non-tariff trade barriers, enhance connectivity and improve the business environment are essential to attract more foreign and domestic investment in the region, he said.

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