The International Monetary Fund (IMF) will proceed to work carefully with authorities in Bangladesh to near the nation’s reform agenda, the global financial institution said in an announcement today time (30 September).
An IMF mission crew led by Chris Papageorgiou visited Dhaka at some level of 24-30 September to discuss most up-to-date trends and the authorities’ reform priorities.
At the tip of the mission, Papageorgiou issued the next assertion:
“We are deeply saddened by the inability of lives and injuries at some level of the most fresh public insurrection and stand in cohesion with the opposite folks of Bangladesh at some level of these tough times. The successfully timed formation of an duration in-between authorities has helped stabilize political and safety prerequisites, fostering a gradual return to normalcy in the economy.
“Alternatively, economic job has slowed markedly, whereas inflation remains at double-digit ranges, owing to the most fresh turbulence and main floods. The deterioration in the balance of funds has attach additional force on a long way flung places exchange reserves. Concurrently, tax income series has declined, whereas spending pressures like elevated, and home rate arrears like collected. Monetary sector vulnerabilities like change into more pronounced. In this context, the authorities and IMF team of workers like held begin and productive discussions on the insurance policies and reforms primary to tackle these rising challenges. We support the authorities’ efforts to launch policy adjustments, in conjunction with continued financial tightening and rationalizing non-priority capital spending, per these demanding instances.
“The IMF remains a steadfast partner, entirely committed to supporting Bangladesh and its other folks. Within the framework of the continuing IMF-supported program, we can proceed to work carefully with the authorities to near Bangladesh’s reform agenda, which goals to make certain macroeconomic balance, promote job introduction, make stronger establishments, and foster stable, sustainable, and equitable development. We welcome the authorities’ renewed dedication to implementing the reforms below the IMF-supported program. Discussions on how to proceed with program experiences will proceed at some level of the upcoming 2024 IMF-World Monetary institution Annual Conferences.
“The IMF crew is grateful to the Bangladeshi authorities and other stakeholders for his or her hospitality and candid discussions. The crew held meetings with Finance Handbook Saleh Uddin Ahmed, Bangladesh Monetary institution Governor Ahsan Mansur, and other senior officials. The crew furthermore met with representatives from the non-public sector, mediate tanks, bilateral donors, and type partners.”
