The country鈥檚 economy had been making speedy recovery from haemorrhage suffered during the last three years of Awami League regime amid mismanagement, loan thefts and capital flights.
Speakers made the comment on Thursday at the launch event of 鈥楳onthly Macroeconomic Insights鈥� by the Policy Research Institute held at its office in the capital.
The AL regime, led by Sheikh Hasina, was ousted on August 5, 2024 in the wake of a mass uprising.聽
The outstanding growth of 28 per cent in remittance inflow for the first 10 months of the 2024-25 financial year and 9.83 per cent increase in exports during the same period have largely been attributed for the recovery by the speakers.
Management of the interim government assuming power almost nine months was also praised by the speakers.
They also said that the recovery would be bolstered by the current reform programme initiated on the revenue side and the exchange rate.
The discussion was arranged one day after the Bangladesh Bank reached an agreement with the International Monetary Fund on market-based exchange rate and two days after an ordinance was promulgated dissolving the National Board of Revenue into Revenue Policy Division and Revenue Management Division.
Answering questions from the participants, chief adviser鈥檚 special assistant Anisuzzaman Chowdhury said that the agreement with the IMF over the exchange rate had been done deliberately to show the world that Bangladesh was no more in the intensive care unit.
Referring to a paper named 鈥楩oreign Capital and Domestic Savings: A Test of Haavelmo鈥檚 Hypothesis with Cross-Country Data鈥� in 1967 by late professor Anisur Rahman, Anisuzzman was critical about foreign loans.聽
Interpreting another question from a readymade garment exporter, he dismissed any adverse impact on the RMG sector due to reciprocal duty by the US saying that low-end garments were shipped out from the country.
Bangladesh Bank deputy governor Habibur Rahman said that RMG had already been the most blessed and most favoured sector and successfully overcame the post multi-fibre agreement in 2004 and the catastrophic Rana Plaza accident in 2013.聽
Anisuzzaman Chowdhury asked the Australian High Commission officials attending the event to help the Bangladesh Bureau of Statics, Bangladesh Securities Commission to improve their performance.
The Australian High Commission is assisting the PRI to launch monthly update.
The chief adviser鈥檚 special assistant gave emphasis on social capital, a concept in sociology and economics, for obtaining the country鈥檚 objectives, the most imminent one is the graduation from the least developed countries鈥� block.聽聽聽聽聽聽聽
The chief adviser鈥檚 special assistant has been assigned to deal with the country鈥檚 graduation from least developed country status.
Two papers were presented initially to set the tone of the day鈥檚 discussion.
One on the 鈥楨conomic Growth and External Sector Development鈥� was presented by PRI chairman Zaidi Sattar and another on 鈥楥hallenge in Fiscal and Revenue Mobilisation, Restoring Stability in Banking Sector Monetary Management鈥� by PRI principal economist Ashikur Rahman.
