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Hasina brushes aside concerns over dwindling forex reserves

July 29, 2022 10:35 am
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Dhaka Bureau :-Sheikh Hasina has waved aside concerns over Bangladesh’s dwindling US dollar reserves, saying she thinks reserve funds to buy food for three months are sufficient, while the country has enough foreign currency to purchase food for nine months

“Some people have raised concerns over this [reserves] in discussions. I think reserves to buy food for three months are sufficient,” the prime minister said while inaugurating the Bangabandhu Sheikh Mujib Centennial Technical Training Centre via video link on Thursday.

Amid the Russia-Ukraine war, Bangladesh’s reserves have decreased to around $40 billion from $48 billion a year ago after rapid growths. The reserves are sufficient to pay for food import bills for nine months, according to Hasina.

She still urged all to focus on cutting dependency on imports by increasing domestic food production, emphasising the growth of farm-focused industries.

Hasina said the government was taking measures to train the country’s youths to employ them in the 100 Economic Zones, not only to send them abroad.

“We must keep in mind that we will have to reduce dependency on others. We must work to stand on our own feet.”

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