An International Monetary Fund (IMF) delegation due to arrive later this month will assess Bangladesh’s potential financial needs as the country sought a fresh $3 billion loan from the multilateral lender.
The government has requested China to lower the interest rates on existing Chinese loans to 1 percent and extend the repayment period to 30 years.
In an effort to bring normalcy back to the industries, the government will review the workers’ wage through the minimum wage board, the interim government has decided.
Bangladesh could get $3 billion in budgetary support under an Asian Development Bank (ADB) and World Bank (WB) arrangement for energy and power sector reforms and the upcoming status graduation from a least developed country (LDC) to a developing nation in 2026.
Bangladesh aims to increase its merchandise and service exports by about 12.74 percent year-on-year to $57.5 billion in the fiscal year 2024-25, according to Finance and Commerce Adviser Salehuddin Ahmed.
The interim government is planning to revise the national budget for the current fiscal year urgently and cut “wasteful expenditures” in order to alleviate the pressure on the foreign currency reserves and tame persistent inflation.
The government is seeking as much as $8 billion in budget support by December from the development partners, including the International Monetary Fund (IMF), to pay back foreign liabilities and boost foreign exchange reserves.
Although the authorities took steps to eliminate mismatches in export data in recent months, discrepancies in the data of revenue collection and expenditure among government agencies continue to persist.
An International Monetary Fund (IMF) delegation due to arrive later this month will assess Bangladesh’s potential financial needs as the country sought a fresh $3 billion loan from the multilateral lender.
The government has requested China to lower the interest rates on existing Chinese loans to 1 percent and extend the repayment period to 30 years.
In an effort to bring normalcy back to the industries, the government will review the workers’ wage through the minimum wage board, the interim government has decided.
Bangladesh could get $3 billion in budgetary support under an Asian Development Bank (ADB) and World Bank (WB) arrangement for energy and power sector reforms and the upcoming status graduation from a least developed country (LDC) to a developing nation in 2026.
Bangladesh aims to increase its merchandise and service exports by about 12.74 percent year-on-year to $57.5 billion in the fiscal year 2024-25, according to Finance and Commerce Adviser Salehuddin Ahmed.
The interim government is planning to revise the national budget for the current fiscal year urgently and cut “wasteful expenditures” in order to alleviate the pressure on the foreign currency reserves and tame persistent inflation.
The government is seeking as much as $8 billion in budget support by December from the development partners, including the International Monetary Fund (IMF), to pay back foreign liabilities and boost foreign exchange reserves.
Although the authorities took steps to eliminate mismatches in export data in recent months, discrepancies in the data of revenue collection and expenditure among government agencies continue to persist.
As foreign aid in the pipeline reached nearly $46 billion at the start of this fiscal year, the interim government will take initiatives to utilise those funds to bolster the country’s foreign currency reserves.
Interest payments against foreign loans shot up 162 percent year-on-year in the first nine months of the last fiscal year as debt servicing of loans taken for some mega projects has started.