Bangkok:Prime Minister's Adviser on Finance and Planning, Prof Dr Rashed Al Mahmud Titumir, announced that the International Monetary Fund (IMF), World Bank, and other development partners have pledged support for Bangladesh's reform programs tailored to the country's own priorities and strategies.
According to Bangladesh Sangbad Sangstha, for the first time, international partners are openly expressing their willingness to support reform initiatives aligned with Bangladesh's goals. This support will enable the country to pursue reforms consistent with its own plans.
Dr. Titumir made these remarks during a briefing at the annual meetings of the IMF and World Bank in Bangkok. He noted that, in addition to the IMF and World Bank, the Asian Development Bank, Islamic Development Bank, and agencies from China and the United States are extending cooperation in implementing these reforms.
Responding to concerns about conditions attached to IMF loans, Dr. Titumir stated that the issues would follow the established process, with the government working to implement steps swiftly and effectively. He also addressed the IMF's economic forecasts, noting that while the IMF projected a 4.7 percent growth rate, the government remains optimistic about achieving its target of 6.5 percent.
The reform agenda, incorporated into the government's election manifesto, will be reflected in the upcoming five-year economic strategy. Reducing living costs and protecting vulnerable households remain key priorities, as the government aims to improve social protection systems and increase health spending.
Efforts are underway to enhance digital public infrastructure for more effective social protection programs, with development partners responding positively to the government's social sector spending targets. The government also aims to increase tax collection to 10 percent of GDP by 2030 and is working on financial sector reforms to protect depositors and ensure accountability.
Highlighting financial irregularities, Dr. Titumir emphasized the need for accountability in the banking sector, citing the looting of approximately US$40 billion. He called for coordinated efforts to address defaulted loans and hold those responsible for financial misconduct accountable.
The IMF and World Bank Group annual meetings in Bangkok, held from October 12 to 18, are discussing global economic outlooks, financial stability, and poverty reduction.