Bangladesh will present its own economic reform plan at the annual meetings of the International Monetary Fund (IMF) and the World Bank Group, seeking to align international cooperation with the country’s economic realities, development needs and policy priorities.
A high-level Bangladesh delegation led by Finance and Planning Minister Amir Khosru Mahmud Chowdhury is attending the meetings at the Queen Sirikit National Convention Centre in Bangkok from October 12 to 18.
The delegation includes Prime Minister’s Adviser on Finance and Planning Dr Rashed Al Mahmud Titumir, Bangladesh Bank Governor Md Mostakur Rahman, Finance Secretary Dr Md Khairuzzaman Majumder and Acting Chairman of the National Board of Revenue (NBR) Ahsan Habib.
Dr Titumir said Bangladesh would outline a reform framework based on national priorities, highlighting structural weaknesses in the economy and the government’s initiatives to address them.
He said the country was seeking cooperation from international financial institutions in line with its prevailing economic conditions and policy objectives.
The annual meetings bring together finance ministers, central bank governors, policymakers, development partners and private-sector representatives from around the world to discuss global economic stability, development financing, financial-sector reforms, investment and job creation.
For Bangladesh, key priorities include strengthening governance in the banking sector, increasing domestic revenue collection, improving the investment climate and securing financing for development programmes.
The meetings will also provide an opportunity for the delegation to engage with senior officials of the IMF and the World Bank on Bangladesh’s economic priorities, future financing requirements and potential areas of cooperation.
Discussions with the IMF may cover future lending arrangements and reform priorities, including addressing weaknesses in the banking system, expanding the tax base, modernising tax administration and improving the effectiveness of public expenditure.
Bangladesh aims to ensure that reform measures are realistic, phased and consistent with domestic economic conditions while strengthening transparency, accountability and overall economic management.
The country is also looking to diversify development financing, attract private investment and expand the role of capital and bond markets in meeting long-term financing needs. Alongside external borrowing, mobilising domestic resources and making greater use of private capital are becoming increasingly important for supporting development.
The World Bank’s agenda includes discussions on using artificial intelligence to create jobs and mobilising private capital for development. These issues are particularly relevant for Bangladesh as it seeks to expand productive investment, generate employment and improve economic competitiveness.
Bangladesh’s participation in the annual meetings is expected to extend beyond discussions on loans and financial assistance. It offers an opportunity to communicate the country’s reform priorities, strengthen confidence among international development partners and explore new avenues for investment and development financing.
Effective coordination with international partners, while maintaining national ownership of reforms, will be essential to addressing structural economic challenges and advancing Bangladesh’s long-term development objectives.
