IMF said Japan's commitment to allow the yen to move flexibly will help the central bank focus on achieving price stability
The IMF prescription for the public means increased gas, electricity and transport prices, and so on.
IMF mission concluded its 15-day visit to Bangladesh today
However, the BB governor did not announce when Bangladesh Bank would introduce the flexible interest rate and exchange rate.
Bangladesh should allow greater flexibility in its exchange rate to address issues in its external account, particularly the deficit in the financial account, said the International Monetary Fund (IMF) today
The IMF mission met with the deputy governors, policy advisor, executive directors and directors in different meetings at the central bank headquarters.
It recommended the National Board of Revenue (NBR) discontinue the tax holiday for the information and communication technology industry and abolish the tax benefit for mining and petroleum extracting companies.
Gopinath told a fiscal forum at the IMF and World Bank spring meetings that US deficits are projected to rise for years with one of the world's steepest curves for debt.
Chinese policymakers have so far resisted calls to juice the economy through massive government stimulus, instead stressing the need to pivot towards "high-quality" growth
The global financial system looks stable, because central banks have shifted more and more debt onto their books.
The exchange rate volatility and its strain on the foreign currency reserves would not disappear anytime soon after Bangladesh Bank Governor Abdur Rouf Talukder yesterday said a floating US dollar rate would not be materalised before the upcoming national election.
International Monetary Fund (IMF) has defended revising down its forecast for Bangladesh’s GDP growth in fiscal year 2023-24, saying it was “pretty reasonable” amidst various ongoing challenges, including elevated inflation.
A visiting delegation of the International Monetary Fund (IMF) held a meeting with senior Power Division officials yesterday mainly over subsidies, reports UNB.
Bangladesh Bank introduced a new formula in June to determine the lending interest rate and brought about a single exchange rate recently but both are yet to be determined by the open market, the International Monetary Fund (IMF) has said.
Among four South Asian nations, Sri Lanka performed the best in containing high inflation.
The International Monetary Fund (IMF) has revised down growth forecast for Bangladesh’s economy to 6 percent for the fiscal year 2023-24, lower from its previous projection of 6.5 percent.
Bangladesh has failed to meet two of the six quantitative targets set for the first half of 2023 by the International Monetary Fund for the $4.7 billion loan, with one of them being a mandatory condition.
Pakistan secured a badly-needed $3 billion short-term financial package from the International Monetary Fund on Friday, giving the South Asian economy a much-awaited respite as it teeters on the brink of default.
The upcoming budget poses significant challenges – arguably the most challenging in recent times – for economic policymaking in Bangladesh.