STAFF CORRESPONDENT

The fear over Bangladesh’s economy that began after Russia invaded Ukraine is now gone, said Finance Minister AHM Mustafa Kamal.

“Considering the global economy, we have to admit that what we achieved is much better than what the others did,” Kamal said in response to reporters’ questions after a meeting with Yamada Junichi, executive senior vice-president of Japan International Cooperation Agency (Jica), at the secretariat yesterday.

About the IMF loan, the finance minister said, “The loan we are taking out from the IMF equals to two months’ remittances.

“We did not understand how long the war would continue. We were scared as the reserve was falling as well as the prices of goods in the world market were rising,” he said on why the loan was taken.

“Now we have no fear. All is well now,” he said.

About inflation, the finance minister said, “Now inflation is high all over the world. And when we came to power, inflation was 12.30 percent. But it did not increase.

“Do you see people going without food?” Kamal said.

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