The Finance Division has prepared an update about the economy highlighting the prevailing high inflation and falling forex reserves to submit to the finance adviser of the newly formed interim government led by Nobel laureate Muhammad Yunus.
The sensitive banking sector has been overburdened with the non-performing loans, loan thefts and hostile takeover of banks caused by a lack of good governance in the past one and a half decades.
Revenue shortages have constrained the government to allocate necessary fund to sectors such as health and education.
Besides, dependency on borrowing grew to meet the budgetary deficit.
Finance division officials said that they were expecting the presence of finance adviser in the finance ministry by Sunday.
The forex reserves stood at $16.1 billion on Thursday on the basis of the Balance of Payments and International Investment Position Manual after it hit all time high聽 $48 billion in August 2021.
The government has already borrowed $2.1 billion from the International Monetary Fund under the ongoing $4.7 billion loan programme until May 2026 to maintain the country鈥檚 balance of payment that is under pressure since April 2022.
The overall inflation in June eased at 9.72 per cent, but the food inflation still persisted at over 10 per cent for the third consecutive month amid price spiral of daily essentials.
The Bangladesh Bureau of Statistics on Sunday recorded double digit food inflation for the third month in a row, mounting pressure on the low and fixed income groups struggling to maintain decent diets with very limited incomes.