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CPD, IMF and monetary policy of Bangladesh Bank July 18, 2007

Posted by bdoza in BANGLADESH, ECONOMY, IMF.
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Recently, Mr. Dhebapriya Bhattacharjee, Executive Director, CPD (Center for policy dialogue ) reacted strongly against monetary policy that is declared by the Bangladesh Bank and possible increase in the price of oil, gas and electricity.

He said that the policy adopted by BB is dictate by IMF and it is a visible shift from the unified national consensus policy . He said that it will increase the inflation and increase the price of the essentials beyond the reach of the common people.

In response to , Finance adviser said that the increase of the price in the energy sector will have little effect on the prices of the food. He said that we cannot increase subsidy of the oil and other sectors for an unlimited period time as the price of the oil is now highest in the international market.

Mr. Tapan Chowdhury, Adviser for Energy said that the comment of CPD is very ufortunate and unexpected. The price is not increased on the advice of the IMF. If it is increased it will be increased for our own need.He also added that increasing price is the last thing in our reserve to control the situatin

Mr. Saleh Uddin Chowdhury ,Governor of Bangladesh Bank said that he thought of the monetary policy before he had any discussion with IMF. He added that the same monetary policy is in effect in many neighnbouring countries. It is not dictated by the IMF and it does not affect the investment singularly.

The IMF executive also deny any imposition of the monitary policy by the IMF over any country. He said that they discuss and advise finanacial bodies of different countries. IMF does not  impose anything on them. It is the concern country to adopt any suggestion or not. He also said that IMF support the present monitary policy adopted by tha Bangladesh Bank

He also said that IMF willl not release its money if its conditions are not fulfilled.

Mr. DPB looks more confident regarding hiis version but the ordinary citizen is not sure how far he is true.

But we should try not to be dependent on IMF and other doner agencies for our Annual Development Programs and we should try to find out means to procure necessary money which will be less conditinal.

An ordinary citizen

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1. Bangladesh » Blog Archive » Bangladesh are no longer any good at One-day cricket either - July 23, 2007

[…] Recently, Mr. Dhebapriya Bhattacharjee, Executive Director, CPD (Center for policy dialogue ) reacted strongly against monetary policy that is declared by the Bangladesh Bank and possible increase in the price of oil, … …more […]


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