Latest macro-economic indicators reviewed
Thursday, 27 November 2008
Doulot Akter Mala
A high-powered technical committee in a meeting Wednesday reviewed all latest macro-economic indicators to scrutinise the possible impact of the global financial meltdown on the country's economy.
The eight-member technical committee has assessed the impact of the global financial crisis on the country's economy and discussed the probable policy response, sources said.
It will make a detailed recommendation within the shortest possible time for making necessary policy adjustments on the basis of its analysis of the situation of world economy, an official said.
"There will be short-term, mid-term and long-term policy corrective measures in the recommendation to help the government set the next course of action for coping with the global financial meltdown," the official said.
The coordination council on fiscal, monetary and exchange rate issues formed the committee early this month.
The committee is scheduled to hold meetings fortnightly for reviewing the trends of economic indicators, terms of trade and real effects of global turmoil on local exchange rate and stock market. It has held its first meeting on November 10 last.
In its second meeting Wednesday, the technical committee has reviewed the import, export, remittance and foreign aid inflow, terms of trade and the share market to measure the effect, the official said.
High officials of Bangladesh Bank (BB), Export Promotion Bureau (EPB), National Board of Revenue (NBR), Securities and Exchange Commission (SEC), Economic Relations Division (ERD), and Implementation, Monitoring and Evaluation Department (IMED) attended the meeting at the finance ministry, chaired by the finance secretary.
The technical committee has discussed the latest statistics of investment of BB reserve, broad money and loan inflow. It has also monitored the implementation of annual development programme (ADP) in July-October period of the current fiscal compared to the corresponding period in the last fiscal.
The technical committee has also collected data on the BB liquidity position, remittance inflow, reserve, real effective exchange rate and nominal exchange rate.
It has compared all the macro-economic data of July-October period of 2008-09 with the corresponding period of last fiscal.
The committee also scrutinised the latest result of BB initiative to supervise the government's scheduled banks and commercial banks to cope with the recent economic crisis.
A high-powered technical committee in a meeting Wednesday reviewed all latest macro-economic indicators to scrutinise the possible impact of the global financial meltdown on the country's economy.
The eight-member technical committee has assessed the impact of the global financial crisis on the country's economy and discussed the probable policy response, sources said.
It will make a detailed recommendation within the shortest possible time for making necessary policy adjustments on the basis of its analysis of the situation of world economy, an official said.
"There will be short-term, mid-term and long-term policy corrective measures in the recommendation to help the government set the next course of action for coping with the global financial meltdown," the official said.
The coordination council on fiscal, monetary and exchange rate issues formed the committee early this month.
The committee is scheduled to hold meetings fortnightly for reviewing the trends of economic indicators, terms of trade and real effects of global turmoil on local exchange rate and stock market. It has held its first meeting on November 10 last.
In its second meeting Wednesday, the technical committee has reviewed the import, export, remittance and foreign aid inflow, terms of trade and the share market to measure the effect, the official said.
High officials of Bangladesh Bank (BB), Export Promotion Bureau (EPB), National Board of Revenue (NBR), Securities and Exchange Commission (SEC), Economic Relations Division (ERD), and Implementation, Monitoring and Evaluation Department (IMED) attended the meeting at the finance ministry, chaired by the finance secretary.
The technical committee has discussed the latest statistics of investment of BB reserve, broad money and loan inflow. It has also monitored the implementation of annual development programme (ADP) in July-October period of the current fiscal compared to the corresponding period in the last fiscal.
The technical committee has also collected data on the BB liquidity position, remittance inflow, reserve, real effective exchange rate and nominal exchange rate.
It has compared all the macro-economic data of July-October period of 2008-09 with the corresponding period of last fiscal.
The committee also scrutinised the latest result of BB initiative to supervise the government's scheduled banks and commercial banks to cope with the recent economic crisis.