Finance advisor Salehuddin Ahmed has reaffirmed the authenticity of Bangladesh’s rising inflation figures, dismissing allegations of data manipulation.
Speaking at the launch of the sixth edition of the Banking Almanac at the CIRDAP auditorium in Dhaka on Saturday, he emphasized the interim government’s commitment to transparency and economic accountability.
Ahmed clarified that the Bangladesh Bureau of Statistics (BBS) had been instructed to publish available data without withholding information. “There was no attempt to manipulate or hide the numbers,” he stated, responding to claims that inflation statistics had been distorted.
Bangladesh’s inflation rate climbed to 11.38% in November 2024, up from 10.87% in October, despite successive interest rate hikes aimed at curbing price increases. The latest data implies that a basket of goods and services priced at Tk 100 in November 2023 now costs Tk 111.38.
Ahmed acknowledged past inflation and gross domestic product (GDP) data inconsistencies, attributing them to unintentional errors and deliberate omissions by previous policymakers. He assured that the current administration is focused on rectifying these discrepancies.
“The interim government is not here to showcase its capacity but to address the misrepresentations of the past 15 years,” he said. Efforts are underway to revise and correct previously concealed information, which international donor organizations have welcomed.
The finance advisor also focused on irregularities in the capital markets. He criticized investors for purchasing “Z-category” shares—stocks with minimal or no intrinsic value. Ahmed cautioned that such investments will likely result in losses, as these shares could soon become worthless.
He held market players and regulators accountable for the current state of the capital markets. “Investors must exercise caution and make informed decisions,” he urged, highlighting the risks associated with speculative trading in non-performing assets.
