Despite global challenges, Bangladesh remains one of the fastest growing economies in the Asia-Pacific region, says IMF staff

DHAKA, May 8 (The CONNECT) - An International Monetary Fund (IMF) staff team, led by Rahul Anand, Mission Chief for Bangladesh, conducted a staff visit to Dhaka from April 25 to May 7, 2023, to discuss recent macroeconomic developments and implementation of the Fund-supported program.

At the conclusion of the visit, Anand issued a statement saying, against a challenging economic backdrop, Bangladesh remains one of the fastest growing economies in the Asia-Pacific region.

However, persistent inflationary pressures, elevated volatility of global financial conditions, and slowdown in major advanced trading partners continue to weigh on growth, foreign currency reserves, and the Taka, he said.

“During the visit, we discussed recent macroeconomic and financial sector developments. We also took stock of the progress made toward meeting key commitments under the Fund-supported program. This will be formally assessed in the first review of the Extended Credit Facility (ECF) / Extended Fund Facility (EFF) / Resilience and Sustainability Facility (RSF) arrangements, which is expected to be undertaken later this year,” Anand said.

The IMF team held meetings with Bangladesh Bank Governor Abdur Rouf Talukder, Finance Secretary Fatima Yasmin, and other senior government and Bangladesh Bank officials. The team also met with representatives from the private sector, bilateral donors, and development partners.