Despite many challenges, Bangladesh remains one of the fastest growing economies in Asia-Pacific: Visiting IMF team

ZOOMBANGLA DESK: The visiting team of International Monetary Fund (IMF) has said that despite many challenges, Bangladesh’s growth is progressive.

In a statement released on Sunday, Rahul Anand, IMF Mission Chief for Bangladesh, said: “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.”

The team led by Anand arrived in Dhaka on April 25 to discuss recent macroeconomic and financial sector developments. The delegation also went over the progress made towards meeting key commitments under the IMF-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’s statement said.

During the visit, 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 delegation also met with representatives from the private sector, bilateral donors and development partners. (UNB)