Finance Minister Amir Khosru Mahmud Chowdhury on Monday said the International Monetary Fund (IMF) has expressed its respect for the government’s fiscal reforms and political responsibility.
The minister made these remarks while speaking to journalists at the ministry following a meeting with Ivo Krznar, the IMF mission chief for Bangladesh and Hong Kong.
According to the finance minister, the discussions focused on the foundation and sequencing of the IMF’s future programmes in Bangladesh, as well as the overall aspects of the policy framework.
He noted that the IMF has expressed complete agreement with the proposed foundations upon which the new programme will be conducted.
Khosru emphasised that the implementation of reforms will be carried out gradually, based on the country’s economic context and priorities.
He clarified that “overnight” or major sudden changes are not feasible, a position with which the IMF has concurred.
Khosru further highlighted that the IMF specifically respected the welfare-oriented accountability and responsibility of a political government, ensuring that economic decisions are made while protecting the interests of the people.
During the meeting, the IMF delegation expressed satisfaction with the “visible progress” achieved during the current government’s four-month tenure. This includes advancements in fiscal sector reforms, the development of the share and capital markets, and revenue collection.
The delegation described the tax collection figures achieved in just four months as a significant milestone in the country’s history. Positive discussions were also held regarding government proposals to further increase the tax-to-GDP ratio by maintaining this positive trend.
Addressing the issue of subsidies, Khosru clarified that specific details or conditions have not yet been discussed. The current talks have primarily focused on establishing the core foundation of the new programme, with detailed discussions expected to take place at a later stage.
Khosru informed that this dialogue is an ongoing process. The next round of discussions is scheduled to take place during the World Bank’s annual meeting in September or October.
He concluded by stating that the IMF is satisfied with the reform-oriented performance of the present government, and the final details of the upcoming programme will be determined based on this foundation.
