Bangladesh has announced to adopt the International Monetary Fund (IMF) mandated method to calculate its foreign reserves.
Key points
- The calculation of foreign exchange holdings of the country will now be In line with the IMF’s 6th edition of the Balance of Payment and International Investment Position Manual (BPM6).
- The Manual serves as a base by the member countries for preparing balance of payments and international investment position statistics according to internationally accepted standards.
- Bank of Bangladesh will calculate and publish the gross international reserve as per the new method.
- According to ‘Bangladesh Development Update’ published by the World Bank in April 2023, moving to the IMF methodology would take out the amount committed by the government to the export development fund worth USD 6 billions January 2023, Bangladesh Infrastructure Development Fund of USD 2 billion and swap arrangement with Sri Lanka amounting to USD 200 million from the calculation of foreign exchange reserve of the country.
(Updated on 23rd June 2023.)
