Governor meeting with Chief Adviser, 4 decisions

The chief adviser of the interim government on the overall economic situation of the country. The new governor of Bangladesh Bank, Ahsan H. Mansoor, had a meeting with Muhammad Yunus.

This information was informed in a press release sent from the office of the Chief Adviser. In the meeting, the interim government took four important decisions to stabilize and reform the financial sector and tackle inflation.

The decisions are-1. The current inflation of the country should be brought down through proper management of demand and supply. For this, the monetary policy should be maintained in a contractionary mode and at the same time the supply situation should be improved. Appropriate measures have been taken in this regard. But everyone has to be patient for some more time to get relief from inflation pressure.

2. Initiatives have been taken to increase liquidity in the foreign exchange market. The existing band for inter-bank foreign exchange transactions has been reduced from 1 percent to 2.5 percent.

3. The current situation of the banking sector was discussed in detail. In view of which the issue of reform has come up. A banking commission will be constituted for sustainable reforms in the banking sector and swift action will be taken.

4. A vision on the overall situation and reforms of the financial sector will be developed, which will be released within 100 days of the formation of the interim government.