C/A Surplus To Narrow As Economy Recovers

We expect the radical improvement in Bangladesh's current account in recent months to dwindle as a recovery in domestic demand lifts import growth. We nonetheless acknowledge upside risks to our forecasts for a current account surplus of US$3.2bn (3.2% of GDP) in FY2009/10 (July-June) and for FX reserves to come in at US$10.6bn by end-June 2010.

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