Country's reserves $24.16 billion in May

The country's foreign exchange reserves were $24.14 billion in May this year.

According to the BPM6 method of the International Monetary Fund (IMF), Bangladesh's reserves amount to $18,633.5 million, said Finance Minister Abul Hasan Mahmud Ali in response to a question from Jatiya Party Member of Parliament ABM Ruhul Amin Howladar.

The minister said that Bangladesh has the ability to meet four and a half months of import expenses with the total reserve amount till March this year.

In response to a question from government party MP Ali Azam, the finance minister said according to the provisional calculations of the Bangladesh Bureau of Statistics, the per capita income of the people of Bangladesh in the fiscal year 2023-24 is $2,784.

Responding to a question about the volatile situation in the foreign exchange market, the finance minister said that if a country has three-month import debt repayment capacity, it is not considered a reserve crisis.

He said, "Bangladesh's current reserves amount to about $24.40 billion, with which it is possible to pay about five months of import liabilities."

In response to a question from Awami League MP Nur Uddin Chowdhury Nayan elected from Laxmipur-2 Constituency, the Finance Minister said from January to May of this year, the country recieved remittances worth $10,572.90 million.

He also said that most remittances came from the United Arab Emirates during this period.