‘Even IMF won’t help if reserve falls below $10 billion’

The International Monetary Fund will not help if Bangladesh's foreign exchange reserve keeps falling and goes below the $10 billion-mark, said Prof Rehman Sobhan, chairman of the Centre for Policy Dialogue (CPD).

Bangladesh's economic situation is still better than that of Sri Lanka considering the higher remittance and export earnings, he said.

He, however, said he could never think that Bangladesh's forex reserve would fall below $30 billion, whereas the amount is now hovering below $20 billion.

If it continues to fall and plunge below $10 billion, the situation would be very bad for Bangladesh and then the IMF will not come forward for the country, the economist said.

In this perspective, Prof Sobhan recommended launching import restrictions considering the priority of products.

He made the comments in an event on "Conversation with Professor Rehman Sobhan" organised by the Economic Reporters Forum at its office in Dhaka.