Take a look...
The foreign exchange reserve of $46 billion as reported at the end of June this year was overstated by 15%
www.tbsnews.net
A 15% overstatement in counting official reserves is no trivial matter. The IMF findings in this regard are concerning. Forewarned is forearmed, says an old proverb. Reserve asset portfolios have special characteristics that distinguish them from other foreign currency assets. There are...
www.tbsnews.net
This is not as big a deal as it appears to be.
The $7 billion in question, although not considered "forex reserve" by IMF's definition, are investments that BB have made that are expected to be re-couped.
The forex flow in and out of BD through official channels can easily be verified by tracking LC data, export volumes, foreign loans/grants, remittance reports by banks, etc..
If BB were to engage in outright foul play, it would have gotten caught in no time.
Besides, BB is an autonmous body with a degree of independence from the government (no public body is fully independent in practice in BD).
BB personnel are generally well qualified. BB has a proven track record of astute management of monetary policy and exchange rates to protect the economy from internal (natural diasters, strikes, etc.) and external (global recession, covid, etc.) shocks. People do not die of hunger in BD.
BB personnel are nothing like the mostly unqualified morons (most don't even have stats degrees!!) that man BBS.
Now why am I defending BB here when I bash BBS day in, day out?
Because I am neither a political hack nor an ultra nationalist snowflake with a fragile ego obsessed with "winning" d*ck measuring contests with fellow hellholes in the neighbourhood.
I tell it like it is, regardless of what anyone thinks.
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en.wikipedia.org
