Although Bangladesh’s economy is still one of the fastest-growing in the Asia-Pacific region, the International Monetary Fund (IMF) continues to feel the effects of persistent inflationary pressures, increased financial market volatility, and a slowdown in many of the country’s major advanced trading partners.
The evaluation was made public by the IMF following a staff visit to Dhaka that began on April 25.
According to a statement, the team met with top representatives of the finance ministry, Bangladesh Bank, and energy ministry to examine recent macroeconomic developments and the implementation of the Fund-supported program. Rahul Anand, the team’s mission chief for Bangladesh, led the meetings.
“During the visit, we discussed recent macroeconomic and financial sector developments. We also took stock of the progress made toward meeting key commitments under the Fund-supported program,” Anand said.
This will be formally assessed in the first review of the $4.7 billion loan it approved in January this year for Bangladesh under its Extended Credit Facility (ECF), Resilience and Sustainability Facility (RSF) arrangements.
The review is expected to be undertaken later this year.
The IMF said its team held meetings with Bangladesh Bank Governor Abdur Rouf Talukder, Finance Secretary Fatima Yasmin, and other senior government and Bangladesh Bank officials, representatives from the private sector, bilateral donors, and development partners.
“We would like to thank the authorities for candid discussions and their warm hospitality. We look forward to continuing our engagement in support of Bangladesh and its people.”