The nation’s current program with the International Monetary Fund (IMF) is still on track, according to Finance Minister Amir Khosru Mahmud Chowdhury today.
He added that as the government proceeds with a number of economic measures intended to stabilize the financial sector and revive economy, the program is anticipated to be further examined in the upcoming months.
“We already have a programme with the IMF, and it is ongoing,” he stated.
The Finance Minister was speaking to reporters after a meeting with IMF Asia and Pacific Department Director Krishna Srinivasan at the Finance Ministry.
He said the IMF programme has been in place for several years and will continue, with the next review scheduled for July.
“Discussions are continuing on the programme’s conditions and their implementation in line with Bangladesh’s current economic realities,” he said.
In addition to challenges in the capital market and a low tax-to-GDP ratio, Khosru stated that the nation is dealing with a difficult economic position, especially in the banking sector, which he described as being in a slightly fragile shape.
According to him, the administration is attempting to carry out the reforms that were described in its election agenda, with an emphasis on deregulation, making doing business easier, and lowering operating costs.
According to him, a number of social sector activities have already been started, such as family support programs, farmer assistance programs, and agricultural credit initiatives.
As part of larger recovery efforts, Khosru added, numerous development projects that had stopped during the previous interim period due to financial restrictions would need to be resurrected.
“To revive these projects, we must undertake financial reforms and bring the economy to a stable position,” he said, adding that further measures will be reflected in the upcoming national budget.
On IMF funding, the minister said discussions are ongoing regarding the next disbursement, with around $1.3 billion expected by June, subject to review. He added that the issues would be discussed in greater detail at the IMF-World Bank Spring Meetings in Washington, D.C. in April.
The Finance Minister also highlighted recent government efforts to manage economic pressures amid global disruptions, including fuel supply issues and inflationary risks during Ramadan and Eid.
He said transport services remained operational without fare hikes, essential commodity prices were relatively stable, and there was no unrest in the garment sector, with workers receiving wages on time.
Emphasising the need for collective efforts, he called on citizens to cooperate with the government to overcome ongoing challenges.
“The government alone cannot do everything. Public cooperation and restraint are essential. While global factors are beyond our control, we can overcome this crisis together,” he said.
Responding to questions, Krishna Srinivasan said that financing discussions are based on policy engagement and remain ongoing with both the finance minister and the prime minister.
“Any discussion on financing is based on policy discussions, and that’s what we had with the Minister this morning,” he said.
Addressing concerns about global instability, including the impact of war, Srinivasan noted that such uncertainty affects all countries, including Bangladesh.
“The war is an uncertainty for every country, and Bangladesh is in the same position,” he said, adding that the IMF will continue working closely with Bangladesh to address economic challenges.
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