Bangladesh Bank (BB) Governor Dr Ahsan H Mansur said the government has planned to bring down inflation to 4-5 per cent by fiscal year 2025-26.
"Our aims are to bring inflation down to 7 per cent by next June. We will bring it down to 5 per cent by the next fiscal year 2025-26. The main goal is to bring inflation down to 4-5 per cent. I hope it is possible," he said.
Reserves were earlier $48 billion, which is now $24 billion. That is, the rest of the money has gone out from the country, he added.
The BB governor said this while speaking as chief guest at a dialogue on "Tipping Points of Reform Agenda for the Turnaround of the Banking Sector of Bangladesh" at the Bangladesh Institute of Bank Management (BIBM) auditorium in the city on Wednesday.
Chairman of BIBM Executive Committee and BB Deputy Governor Nurun Nahar and BB Deputy Governor Dr Md Habibur Rahman were present in the dialogue as special guests while Professor (Selection Grade) of BIBM MdMohiuddin Siddiue opened the dialogue. Director General of BIBM Dr Md Akhtaruzzaman chaired the programme. Ahsan H Mansur told the participants that floods have raised the the prices of vegetables and food items in the market.
"It will come down soon. If we can bring inflation down to 7 per cent, we will reduce the bank's interest and policy interest rate," he added. He said four pillars of the economy, banking sector, capital market, insurance and bond market, are strong in the country.
"We have not been able to develop the bond market. As a result, the banking sector alone has to fulfill a big responsibility in our country. If we cannot find long-term sources of the economy, we will remain dependent on the banking sector," he added.
The President of ABB believes that the corrupt officials of the central bank are responsible for the downfall of the country's banking sector.
He said that the central bank officials still blackmail the commercial bank officials.
However, Governor Dr Ahsan H Mansur refuses to accept this.
He says that not only the central bank is responsible for such a situation, every entity is responsible for this downfall.
A background paper "Tipping Points of Reform Agenda for the Turnaround of the Banking Sector of Bangladesh" was presented in the programme by Professor of BIBM Dr Prashanta Kumar Banerjee.
A good number of participants including chairman, managing directors, senior bank executives, academicians, media representatives, faculty members of BIBM took part in the program.
Director (Research, Development and Consultancy) and associate professor of BIBM Md Shihab Uddin Khan delivered the opening address.
