Bangladesh's Development Independent Review

Independent Review of RBD Bangladesh's Development External sector However, in this connection it needs to be recalled that the IMF has raised question as regards the accuracy of accounting practices associated with estimation of foreign exchange reserve Several media outlets, citing a draft IMF report, mentioned that the foreign exchange reserve at the end of FY21 was overstated to the tune of about USD 7.2 billion (15% of the total) ➤ The major part - more than four-fifths of the overstated reserves - was on account of foreign currency loans to local banks; other parts being in irredeemable claims in non-convertible foreign currencies CPD (2022): Recent Challenges Facing the Bangladesh Economy: A Brief Overview 8

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