International Monetary Fund- IMF has advised Bangladesh to introduce market-based single exchange dollar rate. They said, Bangladesh should adopt a more flexible exchange rate regime for building up its foreign exchange reserves.
According to IMF, Bangladesh was never able to maintain the desired reserves as per the terms of the IMF loan.
The director of Asia Pacific Department of the organization said that Bangladesh must leave the exchange rate of the dollar completely to the market in order to increase the reserves. IMF advised the country to introduce market-based single exchange dollar rate.
However, the Finance Minister did not want to speak when asked about such advice from the IMF. Meanwhile, the IMF MD urged the end of the war to overcome the global economic crisis. The IMF MD also expressed concern about poor countries falling into more misery due to war.