World Bank (WB) and International Monetary Fund (IMF) believe that the government’s Family Card, Farmers’ Card and other social protection programmes can help ease economic hardship and reduce poverty amid prolonged inflation and ongoing Middle East crisis.
Speaking to journalists on the sidelines of IMF and World Bank Group annual meetings in Bangkok, prime minister’s Adviser on Finance and Planning Rashed Al Mahmud Titumir added that such initiatives are expected to lift people out of poverty while preventing vulnerable households from slipping below the poverty line.
Earlier in the morning, a Bangladesh delegation led by Finance and Planning Minister Amir Khosru Mahmud Chowdhury held high-level discussions with officials from World Bank, IMF, Standard Chartered Bank and Bank of America.
Highlighting economic challenges, the adviser said prolonged inflation and the crisis in Middle East have pushed up living costs, particularly for low-income and working-class families, while rising fuel and electricity prices threaten broader economic sectors.
Titumir noted that the government is taking measures to address these pressures and minimise additional burden on ordinary citizens when adjusting fuel prices.
Citing World Bank estimates, he pointed out that around eight million people in Bangladesh had previously fallen below the poverty line due to prolonged inflation.
Titumir added that effective implementation of the Family Card programme alone could reduce poverty by around five per cent.
Digital infrastructure, revenue reforms
Addressing historical flaws in social safety nets, the adviser explained that previous programmes suffered from inaccurate beneficiary selection, excluding eligible individuals while including ineligible ones.
To rectify this, the government is emphasising digital public infrastructure to ensure assistance reaches true beneficiaries.
He stressed that these social safety measures are not merely aspirational, as they are embedded in the prime minister’s election manifesto and the government’s five-year economic strategy.
On macroeconomic management, the adviser observed that strict monetary policy alone cannot curb inflation without structural reforms in revenue collection and the financial sector.
The government aims to boost revenue mobilisation by dismantling tax evasion, tax fraud and a culture of patronage.
Following these reform initiatives, revenue growth rose from around three per cent in the last fiscal year to 12-13 per cent between mid-February and June 30 under the present administration.
He added that the government seeks to restore the confidence of international partners following unfulfilled commitments under the previous Sheikh Hasina administration.
Banking sector recovery, long-term strategy
Turning to the financial sector, the adviser highlighted efforts to restore discipline and rebuild depositors’ trust after widespread irregularities and fund siphoning under previous management resulted in losses of around $40 billion.
Citing positive signs of recovery, he noted that depositors at Sammilito Islami Bank have been able to freely withdraw and deposit funds since September 1, alongside an encouraging drop in Treasury bond interest rates.
Regarding external pressures, the adviser explained that while the Middle East crisis has escalated import costs for fuel, liquefied natural gas (LNG) and fertiliser, the government has deliberately refrained from raising diesel prices to shield farmers.
To accelerate broader economic recovery, job creation and exports, the prime minister has adopted a comprehensive strategy to transform Bangladesh into a manufacturing hub and export gateway.
The 2026 Annual Meetings of World Bank Group and IMF are taking place at Queen Sirikit National Convention Center in Bangkok, Thailand, from 12 to 18 October.
Bringing together finance ministers, central bank governors and global policymakers, the summit offers Bangladesh a critical platform to advance discussions on development financing and priorities.
