Underlining Bangladesh’s economy is under pressure thanks to rising inflation and a decline in export amid geopolitical tension and supply chain disruption, Bangladesh Bank, which is the central bank of the country has maintained ‘due diligence needs to be ensured in foreign trade transactions so that proper values get reflected in export and import LCs’.
As per reports, the BB came up with the observation in its recent report ‘Financial Stability Assessment Report’ for July-September of 2022, published recently wherein was also present its Governor and Deputy Governor Abdur Rouf Talukder and Abu Farah Md Nasser respectively.
Presenting the report, the BB Governor reportedly said the Russia-Ukraine war in early 2022 as well as associated geopolitical tension had created a cloudy environment in the global macro financial landscape even as it led to a severe stress on the external sector of emerging markets and developing economies, including Bangladesh, which is largely due to increase in energy price and supply chain disruptions.