WB MD reiterates need to tame inflation

Staff Reporter :
Anna Bjerde, the Managing Director of Operations at the World Bank, emphasized the need to address soaring inflation in Bangladesh during her recent single-day visit to Dhaka.

Bjerde met with Finance Minister Abul Hassan Mahmood Ali on Sunday, discussing Bangladesh’s prospects amid the ongoing global economic situation. Their talks covered economic reforms, the expansion of social safety nets, and the World Bank’s commitment to supporting efforts to curb inflation.

Following the meeting at the Economic Relations Department in Sher-e-Bangla Nagar, Bjerde stressed the importance of implementing reforms to combat inflation effectively. She highlighted the World Bank’s readiness to provide support through various instruments and expressed eagerness to finalize assessments to aid these reforms.

She underscored the World Bank’s dedication to assisting Bangladesh in addressing inflation and emphasized the need for collaboration to identify key areas for intervention.

When asked about potential strategies, Bjerde suggested reforms in the social security sector, advising the government to extend assistance to those most affected by inflation.

Finance Minister Ali acknowledged ongoing efforts to tackle high inflation, urging patience and noting that inflation reduction is a gradual process, with expectations of improvement after Ramadan, particularly around May and June.

During her visit, Bjerde also met with Prime Minister Sheikh Hasina, Bangladesh Bank governor, senior government officials, private sector representatives, civil society leaders, and women entrepreneurs to discuss development priorities.

It is reported that Bjerde expressed interest in meeting leaders of the Bangladesh Nationalist Party (BNP). She was accompanied by Martin Raiser, Vice President for the South Asia Region at the World Bank.