The International Monetary Fund (IMF) delegation arrives in Dhaka today for a two-week visit to review the progress of conditions for the disbursement of a $4.7 billion loan. The team will meet with officials from the Finance Division, National Board of Revenue (NBR), Power Division, and other relevant authorities.
Bangladesh has already received around $231 million of the $4.7 billion loan from the IMF, in three installments. However, the fourth installment of $645 million, due in December, has not been disbursed yet due to unresolved conditions related to subsidies and fiscal policies.
During their visit, the IMF team will assess progress on fulfilling over 30 reform conditions tied to the loan agreement signed at the beginning of 2023. These include reducing government subsidies, implementing market-based exchange rates, and raising additional revenue. Although some steps have been taken, challenges remain, particularly in separating revenue policies from the NBR, cutting energy subsidies, and stabilizing the currency exchange rate.
Liberty News’ economic correspondent states that despite these hurdles, the IMF is expected to meet with Bangladeshi officials to discuss the situation and provide updates, with a press briefing scheduled for April 17. The government hopes to fulfill the conditions by June, potentially securing both the fourth and fifth installments of the loan, which are crucial for stabilizing Bangladesh’s economy amidst global challenges.
LND/BG
