The International Monetary Fund (IMF) has further cut Bangladesh’s growth forecast but kept its projection on inflation elevated for the current fiscal year.

Bangladesh may grow 3.8% in FY25, not 4.5% in FY25, the lender says

IMF agreed to Bangladesh’s request to extend the loan amount, now it stands at $5.3 billion

The index should be updated quarterly, the donor agency said

IMF mission concluded its 15-day visit to Bangladesh today

The Washington-based lender said the economy would grow by 5.7 percent in 2023-24, lower than the 6 percent forecast in October. The gross domestic product (GDP) projection was 6.5 percent initially.

The International Monetary Fund has suggested the National Board of Revenue (NBR) restructure the personal income tax slabs and increase the tax-free income limit to Tk 5 lakh from the existing Tk 3.5 lakh.

A tax policy mission of the International Monetary Fund (IMF) yesterday began to work with the National Board of Revenue (NBR) to train taxmen to assess tax expenditures so that the government can eliminate less effective tax exemptions, broaden the tax base and increase revenue collection.

The International Monetary Fund (IMF) said that the latest monetary policy adopted by the Bangladesh Bank would help to curb inflation, but added that further measures would be needed to make it durable.

Bangladesh might have experienced capital flight in the last financial year evidenced from the unusual outflow of funds as well as unrealised export proceeds, said the International Monetary Fund (IMF).

A board meeting of IMF isto be held today, where about $681 million in a second loan tranche is expected to be approved for Bangladesh

An IMF team meets BSEC officials today

A visiting International Monetary Fund (IMF) delegation yesterday sought to know from garment manufacturers why some exports from Bangladesh over the past 10 to 15 years did not see the subsequent return of proceeds.

Bangladesh’s foreign currency reserves have slipped further as per the definition of the International Monetary Fund’s (IMF) balance of payments and investment position manual.

No significant economic growth is possible in Bangladesh without a satisfactory level of foreign exchange reserves, said Syed Ershad Ahmed, president the American Chamber of Commerce in Bangladesh (AmCham), yesterday.  

There is not much in it to make us feel better in terms of its focus and measures.

The IMF staff mission’s meeting yesterday with the banking and financial institutions division appears to have not gone seamlessly.

There is likely to be yet another increase in electricity tariff by June as the government looks to shed its subsidy burden in line with the demands of the International Monetary Fund.

The formula will be followed from July this year

Financial pressures are adding to strains caused by high interest rates, volatile oil prices and years of double-digit inflation.