Bangladesh Bank Governor Ahsan H Mansur has expressed dissatisfaction with US credit rating agency Moody’s recent downgrade of the country’s credit rating, saying that it does not reflect the current economic situation.
“Moody’s ratings have been reduced based on outdated information. I urge them—come here to Bangladesh, evaluate us on the ground. Don’t sit in Singapore and rely on second-hand information,” Mansur said during a webinar organized by the Bangladesh Investment Development Authority (BIDA) on Monday (December 2).
The webinar was moderated by BIDA Executive Chairman Ashiq Chowdhury.
Responding to questions, the governor emphasized that key economic indicators such as the exchange rate and foreign exchange reserves are now stable.
“Despite our progress, Moody’s has downgraded us. This assessment doesn’t align with the reality. We object to Moody’s analysis because it uses outdated data and overlooks recent improvements,” Mansur asserted.
He pointed out that monetary policy tightening has stabilized the economy, with higher interest rates making the Bangladeshi Taka an attractive asset.
“Inflation control remains a priority. Essential commodity prices are gradually declining, and we are optimistic that inflation will continue to decrease,” he added.
Recently, Moody’s downgraded Bangladesh’s credit rating from B1 to B2. The agency cited high political risks, low growth, government liquidity issues, global economic fragility, and banking sector vulnerabilities. Moody’s noted that recent political unrest has heightened risks, increased reliance on short-term domestic debt, and exacerbated liquidity concerns.
Mansur criticized these conclusions, arguing that Moody’s has failed to consider recent measures and improvements in Bangladesh’s economy.
“We invite Moody’s to engage directly with us in Bangladesh to provide a fairer and more accurate assessment of our economic outlook,” Mansur concluded.