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.
Bangladesh is currently going through a transition towards a fully flexible exchange rate regime, and the process may take time, said the International Monetary Fund (IMF).
The July uprising of 2024 paved the way for reimagining Bangladesh’s economic future.
The National Board of Revenue (NBR) has set a target to raise Bangladesh’s tax-to-GDP ratio to 10.5 percent by the fiscal year 2034-35, as part of its newly formulated 10-year revenue strategy, according to official documents.
Many participants in the Spring Meetings had a sense that Trump's admin was still conflicted in its demands from trading partners
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The time is right for Bangladesh to move towards a more flexible exchange rate regime, said Chris Papageorgiou, mission chief of the International Monetary Fund (IMF) to Bangladesh.
IMF presents target, revises GDP growth to 4%
The International Monetary Fund's move to disburse the fourth and fifth tranches of a $4.7 billion loan together was a mutual decision, the finance ministry said in a press release yesterday.
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.
The budget of Bangladesh has become an orphan and the International Monetary Fund (IMF) is now the foster father of it, said Debapriya Bhattacharya, a distinguished fellow of the Centre for Policy Dialogue (CPD).
Shares its assessment after conducting a staff visit to Dhaka starting April 25
A team of staff of the IMF is now visiting Bangladesh
The formula will be followed from July this year
Financial pressures are adding to strains caused by high interest rates, volatile oil prices and years of double-digit inflation.
The IMF, which has predicted global growth of 2.9 per cent this year, is slated to release new forecasts next month.
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.
