Bangladesh has more FX reserves than it needs, chief economist says
Biru Paksha Paul says Bangladesh only needs enough reserve to cover six months’ worth of imports
Bangladesh has accumulated more foreign exchange reserves than it needs, the central bank's chief economist Biru Paksha Paul told an audience in Singapore today (July 13).
Speaking at the National Asset-Liability Management conference, Paul stressed the appropriate level of import cover differed from country to country. Bangladesh "should be happy with six months", he argued.
However, its stock of foreign currency has "piled up" to more than nine months. "If you do not address this problem right
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