The interim government has taken the initiative to increase the country's reserves, export earnings and remittances.
For this reason, the government wants support of development partners.
In the meantime, the Finance and Commerce Adviser has held several meetings with stakeholders to adopt the strategy to revive the stagnant economy of the country.
Sources said that the country's economy faced multi-dimensional challenges during last 15 years.
The economy has become fragile due mismanagement of the previous government, corruption, money-laundering and taking loans from domestic and foreign sources for unviable projects.
Sheikh Hasina's government collapsed on August 5, leaving a debt burden of Tk 18.36 lakh crore.
The debt till December last year was equal to the total allocation in three annual budgets of the country. The fallen Awami League government depended on domestic and foreign loans without increasing tax collection from internal sources to meet the budget deficit.
Besides, economic mismanagement, corruption, unfettered opportunity for money laundering and market syndicates mad common people's life unbearable.
According to sources, the country's economy suffered huge losses due to political unrest, violence and vandalism.
The extent of damage is yet to be determined. Again, dollar crisis that has been going on for a long time has intensified.
Foreign exchange reserves should be strengthened to heal the economy.
A plan has been taken to increase the reserve with more loans from development partners, remittances and export earnings.
The interim government wants to overcome this multidimensional challenges the national economy faced in last 15 years.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatim said that there is no alternative to increasing exports and remittances to increase the reserves.
In order to increase exports, the obstacles in the banking sector should be removed.
Gas and electricity crisis should be overcome and customs harassment must be removed.
Former senior vice president of Dhaka Stock Exchange Ahmed Rashid Lali said after Sheikh Hasina government's fall, expatriates started sending more remittances.
Responding to the interim government's positive move, loans, grants and FDI have been made available by many countries.
This will increase the reserves.
The Finance Division said that the government has requested the International Monetary Fund (IMF) to release the remaining installments of the $4.7 billion loan.
The IMF has agreed to release the credit.
Apart from this, Bangladesh is negotiating with the IMF for an additional $ 3 billion loan to increase the reserves.
Bangladesh also requested the World Bank (WB) to lend $1.5 billion.
The government sought $ 1 billion from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA).
Apart from this, the Finance and Commerce Adviser has given instructions to those concerned to increase export income and increase remittances.
Sources said, the WB will provide Bangladesh with $2.3 billion in the current fiscal to facilitate reforms in the country's financial sector and economic recovery from recent floods.
According to sources, the government has signed a deal with the Asian Development Bank (ADB) for $250 million budget support to strengthens social protection system.
Meanwhile, the foreign exchange reserves have increased and gained stability as the inflow of remittances has increased, the Bangladesh Bank said on Tuesday.
"Expatriates are sending huge amounts of remittances. This is the major reason for the increase in reserves,' said BB Executive Director and Spokesperson Husne Ara Shikha, adding, "as the remittance flow had stopped earlier contributing to the decline in reserves," She said increase in remittances increased the s foreign exchange reserves.
The BB currently has $24 billion in reserves. According to the BPM-6 system of the International Monetary Fund (IMF), the reserve is close to $20 billion.
