Bangladesh Continues Talks with IMF on Key Reforms Tied to Loan

Article content(Bloomberg) — Bangladesh said it will continue negotiating with the International Monetary Fund on key reforms the IMF has set as conditions for the balance of a $5.5 billion loan, with Finance Minister Amir Khosru Mahmud Chowdhury holding meetings in Washington with the global lender’s officials.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe talks covered revenue collection, banking sector reforms and broader financial changes — key conditions tied to the loan arrangement, according to a statement from the Bangladesh Embassy in Washington.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle content“Most issues were resolved, though both parties acknowledged that disagreements remained on certain points,” the embassy said, without elaborating. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentChowdhury met with Nigel Clarke, deputy managing director at the IMF, and Krishna Srinivasan, its Asia-Pacific director, on the sidelines of the IMF-World Bank Spring Meetings, according to the statement.Article content“The IMF made it clear that it is a development partner of Bangladesh and will remain by Bangladesh’s side as a development partner throughout the tenure of the current democratically elected government,” it said. Article contentThe new Bangladesh administration, led by Prime Minister Tarique Rahman, took office in February.Article contentThe embassy dismissed reports that the IMF had halted disbursements under its lending program. “This news is completely false. The IMF took no such decision.” Article contentBangladesh secured a $4.7 billion IMF bailout in 2023 to shore up its dwindling foreign reserves after a severe balance-of-payments crisis, with the package later expanded by $800 million. The IMF has already disbursed part of the loan.Article contentDisbursements have been contingent on reforms the country has struggled to push through, particularly on energy subsidies and tax collection.Article contentTrending Bank of Canada's Macklem says he has spoken to Fed chair about risks from Anthropic's Mythos AI model Banking IMF sees Canada's fiscal position as strongest in G7 Economy 'The impacts are massive': U.S. tariff change pushes Canadian manufacturers to the brink Economy Brace for gas price 'shock' in inflation numbers out Monday, say economists Economy Congo to Top Ethiopia to Become Sub-Saharan Africa's Fifth-Largest Economy PMN Business Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Bank of Canada's Macklem says he has spoken to Fed chair about risks from Anthropic's Mythos AI model Banking IMF sees Canada's fiscal position as strongest in G7 Economy 'The impacts are massive': U.S. tariff change pushes Canadian manufacturers to the brink Economy Brace for gas price 'shock' in inflation numbers out Monday, say economists Economy Congo to Top Ethiopia to Become Sub-Saharan Africa's Fifth-Largest Economy PMN Business