Dr Ahsan H Mansur, the governor of Bangladesh Bank, has said that inflation in the country is decreasing and it will not be impossible to reduce it to 4-5% in the future if the government's consistent policies and efforts continue.
He made the statement on Thursday during the inaugural session of the “Banker-SME women entrepreneurs' gathering, product exhibition, and fair” as the chief guest, held at the Bangla Academy premises in the capital.
The Governor said: "If we print money on one hand and claim that inflation is not decreasing on the other, it will not work. We must be firm on this issue.”
He added: “Already, food inflation has decreased from 14.5% to 8.5%, and non-food inflation has also come down to around 9% from 12.5%. I am hopeful that it will continue to decrease step by step."
According to recent data from the Bangladesh Bureau of Statistics (BBS), the overall inflation rate in April was 9.17%, down from 9.35% in the previous month.
The Governor highlighted that while women have constitutional rights, they face obstacles in accessing them, particularly in securing loans. He noted that only 6% of total banking sector loans go to women, calling it unacceptable.
He also urged banks to offer loans to women from their own funds, rather than relying on central bank funds, as it could risk inflation.
City Bank's MD, Masrur Arefin, said: "It is crucial for banks to increase initiatives at the highest levels to expand SME activities for women entrepreneurs."
A total of 68 women entrepreneurs from across the country are taking part in the four-day fair, which runs until May 11. Six will be honoured on the final day.
Organized by Bangladesh Bank from 2014 to 2020, the fair was paused due to Covid-19 and is now being revived after four years with renewed efforts for women's financial inclusion.
