5/18/2015 Bangladesh working towards credit upgrade central bank governor | Reuters EDITION: HOME BUSINESS MARKETS WORLD SIGN IN U.S. POLITICS TECH OPINION BREAKINGVIEWS REGISTER MONEY Bonds | Sat May 16, 2015 10:49am EDT LIFE Search Reuters PICTURES VIDEO Related: BONDS, MARKETS Bangladesh working towards credit upgrade -central bank governor DHAKA | BY SERAJUL QUADIR May 16 Bangladesh's central bank governor said on Saturday the economy remained stable despite months of political unrest that has killed 120 people and slashed domestic output, and it was working towards a credit upgrade from Standard & Poor's. Talking to Reuters on the sidelines of an international conference on the economy, Atiur Rahman said the bank's proactive approach to promote economic stability during three months of turmoil helped Bangladesh to keep its stable credit outlook. "Despite more than three months long political unrest the outlook of country's economy is stable, and this has been confirmed by Standard & Poor's," Atiur said. On Wednesday, Standard & Poor's reaffirmed Bangladesh's BB/B foreign and local currency sovereign credit ratings, saying the stable outlook balanced healthy growth prospects and an improving external profile against fiscal weaknesses and development needs. Atiur said S&P could upgrade Bangladesh's ratings if measures to expand the revenue base and boost collection efficiency materially improved fiscal performance. "Maintaining exchange rate stability and prudent monetary policy has helped keep inflation low along with deeper coordination between fiscal policy and monetary policy," he said. He added that the central bank measures to promote stability included financial inclusion, modernizing the payment system and improving transparency in the financial sector. The political turmoil has already shaved the equivalent of 0.55 percent of Bangladesh's TRENDING ON REUTERS Islamic State says it has full control of Iraq's Ramadi | 1 Amtrak engineer made no report of object hitting windshield before crash: NTSB | 2 Blanchett denies lesbian affairs as 'Carol' film wows Cannes | 3 Nepal quake death toll becomes highest on record; dozens still missing 4 Nine killed in gun battle among Texas biker gangs | 5 annual GDP, according to the Centre for Policy Dialogue, a leading think tank. The unrest started in January when the country's largest opposition party, Bangladesh Nationalist Party (BNP), called a countrywide general strike and blockade after refusing to take part in last year's general election, saying it was rigged. Prime Minister Sheikh Hasina has refused BNP demands to step down, instead tightening her grip by arresting key opposition leaders and clamping down on media critical of her government. (Reporting By Serajul Quadir; editing by Clelia Oziel) From The Web Sponsored Links by Taboola PHOTOS OF THE WEEK Our top news photography this week. Slideshow » http://www.reuters.com/article/2015/05/16/bangladeshratingsidUSL3N0Y706C20150516 1/3