Bangladesh has committed to a sweeping overhaul of its troubled financial sector, outlining a detailed three-year roadmap as part of its latest agreement with the International Monetary Fund.
The Asian Development Bank plans to provide $1 billion in budget support to advance Bangladesh’s banking sector reforms, contingent on 25 conditions including the creation of a financial stability fund for banks facing capital shortfalls.
The government has pledged a series of sweeping reforms to meet International Monetary Fund conditions for the next instalment of its $5.5 billion loan, including a public survey to measure corruption in tax administration and a phased reduction of subsidies on electricity, fertiliser, remittances and exports.
Bangladesh must clear dues, hit steep revenue, reserve targets for next tranche
Bangladesh plans to launch a Tk 316 crore reform programme aimed at significantly speeding up project planning, approval, and implementation through the use of artificial intelligence for the first time.
The government plans to scale back its dependence on foreign loans as it seeks to mitigate threats to external debt sustainability.
Jumped to 589.5m francs in 2024 from 17.7m the previous year
For the first time, the World Bank, which traditionally provides development project loans and budgetary support, has extended its assistance through a guarantee facility to support Bangladesh in purchasing liquefied natural gas (LNG), aiming to ease pressure on the country’s foreign exchange reserves.
Bangladesh has committed to a sweeping overhaul of its troubled financial sector, outlining a detailed three-year roadmap as part of its latest agreement with the International Monetary Fund.
The Asian Development Bank plans to provide $1 billion in budget support to advance Bangladesh’s banking sector reforms, contingent on 25 conditions including the creation of a financial stability fund for banks facing capital shortfalls.
The government has pledged a series of sweeping reforms to meet International Monetary Fund conditions for the next instalment of its $5.5 billion loan, including a public survey to measure corruption in tax administration and a phased reduction of subsidies on electricity, fertiliser, remittances and exports.
Bangladesh must clear dues, hit steep revenue, reserve targets for next tranche
Bangladesh plans to launch a Tk 316 crore reform programme aimed at significantly speeding up project planning, approval, and implementation through the use of artificial intelligence for the first time.
The government plans to scale back its dependence on foreign loans as it seeks to mitigate threats to external debt sustainability.
Jumped to 589.5m francs in 2024 from 17.7m the previous year
For the first time, the World Bank, which traditionally provides development project loans and budgetary support, has extended its assistance through a guarantee facility to support Bangladesh in purchasing liquefied natural gas (LNG), aiming to ease pressure on the country’s foreign exchange reserves.
The loan utilisation period for the Rooppur Nuclear Power Plant is set to be extended by three years, as about $3.38 billion of the Russian credit remains unspent after the original deadline expired in December 2024.
Bangladesh's total debt reached Tk 1,944,171 crore by December 2024, increasing debt servicing pressure
