Moody's upbeat about Bangladesh Economy

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Moody's upbeat about Bangladesh Economy

Global rating agency Moody's found a number of positive aspects of Bangladesh's economic condition -- steady growth trends, a positive external sector, stable exchange and interest rates, and the momentum in reforms.

Bangladesh is the only South Asian country that has consistently posted current account surpluses in the past decade, it said in a recent comment.

Higher capital flows may take reserves closer to $13 billion by end-2013, from $10.3 billion at the end of fiscal 2012.

However, Moody's said the continued labour unrest and the possibility of a messy transition to parliamentary elections in 2014 could derail the smooth progress in reforms.

Complexity regarding the Padma Bridge financing and loan scams in the state banks underscore poor governance and transparency issues, it said  - source Daily Star.