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International Monetary Fund

The staff report for the 2007 Article IV Consultation on Bangladesh highlights recent developments and policy discussions. Bangladesh’s growth outlook and external position remain robust, but inflation has picked up. Overall macroeconomic stability has been maintained, but fiscal performance continues to suffer from structural weaknesses. Executive Directors welcomed the planned reforms in the area of public financial management and the adoption by major ministries of the medium-term budget framework. They supported the recent reforms to promote transparency, fair elections, and the prevention of money laundering.

International Monetary Fund

Bangladesh’s 2008 Article IV Consultation reports that growth picked up strongly from a slow start to the year with rebounds in agriculture and garment exports playing a leading role. Strong growth of remittances and increased external assistance helped support the balance of payments in the face of rising import costs. An impressive increase in government revenues, bringing state-owned enterprise losses onto the budget, and the substantial increase in administered prices have been significant achievements.

International Monetary Fund

Growth performance in Bangladesh is improving, but macroeconomic imbalances have also emerged. Medium-term growth targets are likely to intensify macroeconomic pressures if not managed well. Longer-term growth prospects hinge on generating sufficient resources to relieve infrastructure bottlenecks and ensuring a competitive business environment focused on labor-intensive activities. There is a need to build on the momentum of recent reforms. To ensure a stable macroeconomic environment, vigilance is foremost required on the fiscal front. The focus is on accelerating growth-promoting structural reforms, while ensuring a stable macroeconomic environment.

International Monetary Fund

Satisfactory progress has been made so far under the first-year poverty reduction and growth facility and the program is on track. Turning this progress into faster and lasting growth requires deeper reform to improve the investment climate and credible action to strengthen governance. The recent shift in the stance of macroeconomic policies to support growth is timely. The targeted increase in the budget for infrastructure and social spending is well considered. Bangladesh's record under the program so far has been positive overall.

International Monetary Fund. Asia and Pacific Dept

This paper discusses Bangladesh’s Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Modification of Performance Criteria (PC). All PCs at end-December 2013 (the test date for the fourth review) were met, and all structural benchmarks have been completed. Fiscal and monetary policies are set to retain a prudent stance to safeguard macroeconomic stability. Based on strong program performance to date and the policy framework going forward, the IMF staff recommends completion of the review, as well as modification of PCs for end-June 2014 on account of reserve over-performance.

International Monetary Fund. Asia and Pacific Dept

The Sixth Five Year Plan, as outlined in Bangladesh's Poverty Reduction Strategy Paper, targets strategic growth and employment. The medium-term macroeconomic framework plan entails the involvement of both the private and public sectors. Human resources development strategy programs reaching out to the poor and the vulnerable population, as well as environment, climate change, and disaster risk management, have been included in the plan. Managing regional disparities for shared growth and strategy for raising farm productivity and agricultural growth have been outlined. Diversifying exports and developing a dynamic manufacturing sector are all inclusive in the proposed plan.

International Monetary Fund

This Selected Issues paper on Bangladesh underlies the export performance of readymade garment industry and inflation dynamics. Bangladesh has demonstrated that it is highly competitive in the world’s major garment markets. Inflation inertia, monetary factors, and exchange rate fluctuations are the main determinants of inflation in Bangladesh. Despite adoption of numerous tax policy measures during the past few years, policies implemented by the Bangladesh authorities have not been fully successful in lifting the revenue ratio to a level warranted by developmental objectives.