Country's unrealised export proceeds currently stand at $1.4 billion: BB
The country's unrealised export currently stands at $1.4 billion, according to the Bangladesh Bank (BB).
Majbaul Haque, the central bank spokesperson, said this figure reflects the country's export income that is yet to be repatriated.
Addressing recent news reports on the matter, Haque claimed that there was no observation from the International Monetary Fund (IMF) that the country has $3 billion unrepatriated.
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On why the Export Promotion Bureau (EPB) data showed exports to be higher, he said the EPB also calculated those products which were produced in different export processing zones in the country and then sold in Bangladesh.
He made the statement following the closing meeting of the visiting IMF delegation visit with the central bank governor in Dhaka on Sunday (7 May).
Haque also announced that the calculation of net forex reserve, as per the IMF's advice, will be published in the next monetary policy.
Furthermore, he said that the interest rate corridor will be operational from June of this year.
The country is moving towards a single exchange for the US dollar rate as per IMF demands, he added.
He assured that the country's exchange rate is already close to a single rate.
With the implementation of the interest rate corridor and the move towards a single exchange rate, the hope is that the country's economy will improve and that the unrealised export proceeds will be addressed in the near future.
