Dhaka, Feb. 23 -- Bangladesh's general election has reduced near-term political and policy uncertainty in a turnaround that could support improvements in macroeconomic stability, says Fitch Ratings in its post-poll positive assessment.

The Bangladesh Nationalist Party (BNP)-led alliance has secured a parliamentary supermajority in the February-12th polls, alongside a majority "yes" vote in a referendum that could enable constitutional reforms, the credit-rating agency says.

However, longstanding credit constraints - weak governance, banking-sector fragilities and a fragile external liquidity position - mean the new government's ability to execute its macroeconomic and fiscal reform agenda will determine the rating impact.

It views that...