IMF satisfied with financial sector reforms: Finance Minister

The International Monetary Fund has expressed satisfaction with Bangladesh's ongoing financial sector reforms, stock and capital market development, and visible progress in revenue collection, Finance Minister Amir Khosru Mahmud Chowdhury has said.

The minister was speaking to journalists after a meeting with an IMF delegation led by Mission Chief for Bangladesh and Hong Kong Ivo Krznar at the Secretariat on Monday, July 13.

He said the meeting discussed the framework for a potential new IMF programme, the sequencing of reforms, and overall policy issues. The IMF has agreed on the proposed programme framework and supports the phased implementation of reforms, considering the country's economic realities.

"The IMF is satisfied with the progress made in financial sector reforms, capital market development and revenue collection in just four months of the current government," the minister said. He noted that the IMF sees the significant progress in tax collection in such a short period as an important achievement, and positive discussions were also held on proposals to further increase the tax-GDP ratio.

Regarding subsidies, the minister said no specific conditions have been discussed yet, with the focus currently on the basic framework.

The next round of discussions is expected during the World Bank annual meetings in September or October.