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How to overcome the dollar crisis

In a roundtable organised by The Business Standard on 3 December 2023, speakers said that ensuring predictability of the economy is of urgent need

Once we reached the threshold of $48 billion in forex reserves, it started falling without pause. At the end of December last year, the gross reserve stood at $21.7 billion and the net reserve was close to the IMF set ceiling of $17.78 billion.

Impacts are already being felt, by business people while opening LCs, by bankers while responding to clients’ demand for dollars, even by the government while repaying project loans or paying the power producers or footing fuel import bills. Worse still, people are feeling the pinch of inflation, which keeps creeping up, as weakening taka makes imported items costlier in the local market.  

In a roundtable organised by The Business Standard last month, speakers said predictability…

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