IMF satisfied with the improvement of Bangladesh economy: Salehuddin

The International Monetary Fund (IMF) has expressed satisfaction with the recent improvement of Bangladesh's economy.

"The IMF team has expressed satisfaction with the improvement of Bangladesh's economy as it is stable now. They observed that the country's economy is moving in the right direction," Finance Adviser Dr Salehuddin Ahmed told reporters after a meeting with the IMF team at the secretariat on Sunday. 

A visiting delegation of IMF led by Mission Chief Chris Papageorgiou has started discussions to review updated financial data before releasing the next tranches of the $4.7 billion loan.

The other members included IMF Resident Representative in Dhaka Jayendu De and Senior Economist Seokhyun Yoon.

Regarding the next tranches of IMF loan, Salehuddin hoped that Bangladesh will receive the fourth and fifth installments of the IMF loan together.

The IMF team has laid emphasis on increasing tax-GDP ratio, recovery of the default loan and banking sector reforms.

The delegation is assessing the country's progress on reforms tied to the loan programme, of which three instalments have been disbursed so far. 

During the visit, IMF officials will hold discussions with representatives from the Finance Division, the National Board of Revenue, Power Division, Power Development Board, Bangladesh Energy Regulatory Commission, and the Energy and Mineral Resources Division. 

The review will conclude with a meeting between the IMF team and the finance adviser on 17 April, followed by a press briefing.