Bangladesh is seeking support from various donor agencies, including the International Monetary Fund (IMF), for reforms in key economic areas such as money laundering prevention, banking, and revenue sector improvements.
However, the exact amount of assistance to be requested from the IMF will depend on what other donors provide.
Finance and Trade Adviser Dr Salehuddin Ahmed revealed this after a meeting with an IMF delegation at the Ministry of Finance on Tuesday (September 24).
"We need resources for various economic reforms. While we'll maximise domestic resources, some areas require foreign assistance, such as balance sheet support from the IMF, which is crucial for the banking sector and others," said Salehuddin Ahmed.
He added that the specific amount of IMF assistance will be finalised after evaluating the contributions of other donor agencies.
The IMF's support will focus on sectors like banking reforms, the foreign exchange market, and tax reforms. Discussions with the Bangladesh Bank and the National Board of Revenue (NBR) are also planned.
Salehuddin mentioned that the process will continue with discussions at the upcoming World Bank meeting in October. "We’ve outlined our resource gap and will submit a formal report to the IMF, detailing our needs," he said.
When asked about the specifics of the assistance sought, the finance adviser explained that Bangladesh is requesting both financial and technical support for reforms in banking, money laundering prevention, and tax reforms.
He emphasised the need to coordinate efforts among donor organisations to avoid duplication and ensure maximum resources for the required reforms.