3:21 AM
Chief economist and senior vice president of the World Bank (WB) Kaushik Basu on Monday said the reason behind the economic success of Bangladesh is strong monetary policy of the central bank, reports news agency UNB.
“Bangladesh has made mentionable economic growth despite global economic meltdown,” said Basu while inaugurating an international workshop on ‘Macroeconomic Stability, Private Sector Development and Economic Growth’ at the Bangabandhu International Conference Centre (BICC) in Dhaka.
The workshop is being jointly organised by Bangladesh Bank and United Nations Department of Economic and Social Affairs (UNDESA).
Praising the role of Bangladesh Bank, the WB Chief Economist said the economic situation of Bangladesh is now stable due to the strong policies of the central bank.
However he did also mention a good policy alone cannot lift an economy. Improving monitoring systems in line with policy formulation is also vital.
At the same time, the economy of the country will stand on a strong footing if the social, political and psychological transformations happen, Basu added.
Mentioning Bangladesh as one of the economic leaders of Asia now, he said the economy of Bangladesh is improving rapidly which can be an example for other countries.
Speaking at the programme as special guest, Bangladesh Bank Governor Dr Atiur Rahman said at least two crore (20 million) low-income people will enter the middle-income group in the next 10 years.
He said Bangladesh has taken strategic plans 2015-19 to ensure sustainable economic growth to meet the economic challenges of 21st century.
Bangladesh Bank has initiated socially responsible, inclusive and environment-friendly investment, increasing resilience in the financial sector and financial negotiation policies to tackle the risks of instability and imbalance of financial system.
Prothom Alo
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