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IMF delegation for uniform US dollar rate

The international lender also inquired about delayed submission of the country's export proceeds

Update : 04 May 2023, 03:20 PM

The International Monetary Fund's (IMF) visiting delegation suggested a uniform exchange rate for the US dollar instead of varying rates.

They also wanted to know about Bangladesh's export growth this year and the government's steps to increase export during a meeting with senior commerce secretary Tapan Kanti Ghosh on Tuesday.

The secretary said the Bangladesh Bank (BB) is working to implement a uniform dollar exchange rate for export and import from July later this year.

Regarding the country's export earnings, he noted that necessary initiatives have been taken to expand exports to new markets with new products.

The government is simplifying procedures to reduce the cost of doing business for businesses and exporters.

The renewal period of various licences has been made five years, he added.

The international lender also inquired about delayed submission of the country's export proceeds and wanted to know whether the exporters were willing to repatriate their total export proceeds or not.

In response to the queries, Ghosh said the amount of non-repatriated export income increased to $3 billion. It is not correct that the exporters are not repatriating their export earnings.

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