Govt printed Tk 200b in March: PRI chief economist

Ashikur Rahman, chief economist of the research organisation Policy Research Institute (PRI), commented that the government has started printing money again.

He said that in March alone, the government borrowed Tk 200 billion from Bangladesh Bank. This is high-powered money—essentially printed money—which could contribute to rising inflation.

He made these remarks at the seminar held today, Thursday, at PRI’s office in Banani, which reviewed the economic conditions of February and March.

The event was attended as chief guest by ICCB President Mahbubur Rahman, and was chaired by PRI Chairman Zaidi Sattar.

While presenting the keynote paper at the seminar, Ashikur Rahman said, “If we step back from reforms, it will be self-destructive. We hope the government will review bank resolution. By retreating from reforms, the government has created unnecessary tension regarding the International Monetary Fund (IMF).”

In his remarks as chief guest, Mahbubur Rahman said that businesspeople are already experiencing uncertainty over investment. They are concerned about whether they will have access to gas and electricity. The government and the business community need to work together.

Zaidi Sattar said that fuel prices affect the cost of everything. The Hormuz issue is putting pressure on the global economy. Therefore, the elected government must move toward major reforms.