UNB
Published:
A high-level delegation from the International Monetary Fund (IMF) is scheduled to arrive in Dhaka tomorrow (July 12) on a crucial five-day visit.
The visit will focus on the feasibility and size of a new financial assistance package and evaluating vital macroeconomic structural reforms proposed by the government.
The mission comes at a critical juncture as the newly formed government has practically moved away from the previous IMF facility and requested a fresh three-year loan program tailored to current macroeconomic realities. The primary goal of the tour is not to finalise a credit arrangement immediately, but rather to evaluate the current macroeconomic conditions, the government’s policy priorities, and its capacity to execute necessary reforms.
According to Ministry of Finance sources, the IMF delegation will hold a series of meetings with the Ministry of Finance, Bangladesh Bank, the National Revenue Board (NRB), and other relevant stakeholders.
The team will review a broad spectrum of the economy, including the current status of Bangladesh’s macroeconomic indicators. the roadmap for rebuilding the banking sector and curbing non-performing loans, progress in revenue collection and tax administration reforms, the position of the country’s foreign exchange reserves and public debt management, and the structure and volume of the proposed new loan program.
Dr. Ahsan H. Mansur, former IMF official and former Governor of Bangladesh Bank, stated that the principal objective of this five-day visit is to physically evaluate the government’s sincerity and commitment toward implementing deep economic overhauls.
He noted that several crucial reforms under the previous program stalled as they were left unimplemented. Consequently, if Bangladesh intends to secure a fresh IMF facility, the delegation will place utmost emphasis on the new strategic roadmap designed by the administration.
Dr. Mansur highlighted that the overhauling of the NBR, eliminating vulnerabilities in the banking sector, and fully materializing a market-driven foreign exchange rate will dominate the discussions.
Furthermore, following the announcement of the national budget, the delegation will hold detailed talks on the financial viability and funding sources of the proposed 9th National Pay Scale.
Ultimately, the IMF mission intends to gauge both the administrative and political readiness of the state to handle structural adjustive measures in the days ahead.
Source: https://thefinancialexpress.com.bd/national/high-level-imf-delegation-due-in-dhaka-sunday-on-five-day-visit-to-discuss-new-loan-programme
