Bangladesh Bank Governor received a D grade in a ranking by Global Finance magazine, primarily due to high inflation and the devaluation of the Bangladeshi Taka. In contrast, central bank heads of India, Vietnam, and Switzerland received A+ grades.
Global Finance noted that Bangladesh Bank initially met its mandates, with post-Covid GDP growth at 5.6% and inflation slightly exceeding the 5% target by 0.6%. However, by mid-2022, the Taka devalued by 9.5%, and inflation surged due to external factors, leading to a call for IMF support.
The report also highlighted the structural weaknesses in Bangladesh’s economy and the government’s significant control over the central bank. In comparison, India’s central bank governor received praise for controlling inflation and fostering economic growth, while Vietnam’s governor was commended for her work in rationalizing credit and managing inflation. The Global Finance report assessed central bank governors in 101 countries based on inflation control, exchange rate protection, and foreign exchange reserves management.
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