Bangladesh on track for next IMF loans
Bangladesh is on track to meet all 12 conditions set by the International Monetary Fund (IMF) to qualify for the fourth tranche of a 4.7 billion dollar loan programme, only missing the revenue collection target.
An IMF team, led by Chief Chris Papadakis, will visit Bangladesh from December 3 to 17 to assess the country’s compliance with the loan program’s structural reform requirements. During their visit, the team will hold discussions with officials from the Bangladesh Bank, the Ministry of Finance, the Ministry of Power and Energy, the National Board of Revenue, and the Bangladesh Bureau of Statistics.
The IMF outlined seven key performance criteria that must be met by June 2024. These include targets related to net international reserves, budget deficits, external payment arrears, reserve money, tax revenues, social spending priorities, and government-led capital investments.
According to a senior finance division official, Bangladesh has successfully met six of these conditions but fell short on tax revenue collection. The IMF had set a target of Tk 394,530 crore in taxes by June 2024, but government figures show collections reached Tk 369,209 crore—leaving a shortfall of Tk 25,321 crore.
In addition to the ongoing $4.7 billion loan program, Bangladesh has submitted a request for an additional $3 billion from the IMF, signaling its need for further financial support to strengthen its economic stability.
.png "Advertisement")
