The nation has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets
Ministerial meeting on economic issues, capital market amid unrest in the global market
Finance Minister AHM Mustafa Kamal held an ‘emergency meeting’ to decide what needs to be done to protect the country's capital market and overall economy amid unrest in the global market caused by the Ukraine war and the pandemic.
Published : 23 May 2022, 05:37 AM
Updated : 23 May 2022, 05:37 AM
Kamal urged ‘a watchful eye’ on the country's capital market so that the interests of any investor, big or small, are protected, according to a press release issued by the Ministry of Finance on Sunday.
He also gave ‘some directions’ for swift, effective steps to restore strong confidence in various sectors of the country's economy.
“Due to the Russia-Ukraine war, the world is witnessing an economic downturn with rising commodity prices just as the economic recovery from the impact of the COVID-19 is underway,” the press release said.
However, details on the specific instructions and the decisions taken at the meeting were not included in the press release.
Discussions were also held on maintaining normal transactions in the capital market, creating a conducive environment for investment and the kind of assistance required to sustain the economy.
RELATED STORIES
The IMF projects that consumer prices in the country will rise by 7.9 percent by the end of the fiscal year
While initial price spikes have faded since Russia's invasion of Ukraine, a widening of the conflict could cause them to intensify, the IMF says
Manufacturing output in February rose 5% year on year, slower than the 5.9% rise posted in the same month last year
