The International Monetary Fund (IMF) has reaffirmed its support for Bangladesh’s interim government in overcoming the various economic challenges the country has been facing in recent times.
The International Monetary Fund (IMF) is positive about lending an additional $3 billion to Bangladesh but the multilateral lender wants to know what reforms the interim government is planning to take.
Bangladesh is unlikely to fulfil the revenue collection target set by the International Monetary Fund (IMF) as part of its conditions for the fourth tranche of a $4.7 billion loan programme.
The International Monetary Fund has urged Bangladesh to strengthen the asset declaration process for public officials in order to combat high-level corruption effectively.
The funds will be added to the reserves in two days
Mansur, a former economist at the International Monetary Fund, said interest rates would rise. This may slow the economy further, but it is necessary to overcome the challenges.
The central bank took the decision as people have been struggling with the high level of prices for around two years.
Thanks to bold reform measures taken by the authorities, the IMF has drastically slashed the Net International Reserves (NIR) requirement for Bangladesh for the fourth tranche of the $4.7 billion loans.
The International Monetary Fund (IMF) emphasised more reforms in the banking sector and tax collections and reducing subsidies to help the economy turn around.
Reforms following the IMF prescription should not harm disadvantaged groups
As is well-known, credit from the IMF comes with strings attached, and the latest one is no exception.
The central bank took the decision to comply with IMF's loan conditions
There is likely to be yet another increase in electricity tariff by June as the government looks to shed its subsidy burden in line with the demands of the International Monetary Fund.
Economic uncertainty will keep us on our toes
The government is on track to meeting the International Monetary Fund’s tax collection target for March but may miss the mark in June.
A set of parallel initiatives need to be undertaken targeting the structural weaknesses of the gas sector and power sector development to ensure energy transition.
Three issues would be dictating the upcoming fiscal year’s budget, the last of the Awami League government’s present five-year term: the International Monetary Fund’s conditions, the persistently high inflation and next year’s national election.
Bangladesh’s preparation for LDC graduation would start in earnest with the International Monetary Fund’s 42-month loan programme, where one of the objectives is to overhaul the monetary and exchange rate policies to meet the needs of an open economy.
The International Monetary Fund would be watching the Bangladesh economy like a hawk, stipulating an extensive list of data reporting regularly as part of the conditions agreed upon for the $4.7 billion loan programme.