Where will the money come from?

Where will the money come from?

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Another point is that the Bangladeshi taka is devalued at the moment, but this has not always been the case. India has no problem with its reserves. This is enough to meet import expenses for 12 months.

The International Monetary Fund (IMF) itself is skeptical whether it will actually be possible for Bangladesh to ensure the amount of reserves it has asked for by June or September. We must keep in mind the risks involved in doing business in rupees with a large economy like India.

To what extent the businessmen of Bangladesh are giving importance to this matter or welcoming it, cognizance should also be taken. They are the ones who will be doing business. It should be ensured in advance that there is no loss to the businessmen while doing transactions in rupees. It is also to be seen how other countries are dealing or have dealt with India in this regard. Since the government has taken this decision, we can wait and see where it goes.

* Mustafizur Rahman is a Distinguished Fellow of the Center for Policy Dialogue (CPD)

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