IMF Staff Country Reports

Bangladesh: 2023 Article IV Consultation, First Reviews Under the Extended Credit Facility Arrangement, Arrangement Under the Extended Fund Facility, and the Resilience and Sustainability Facility Arrangement, Requests for a Waiver of Nonobservance of a Performance Criterion, and Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Bangladesh

December 14, 2023

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Bangladesh: 2023 Article IV Consultation, First Reviews Under the Extended Credit Facility Arrangement, Arrangement Under the Extended Fund Facility, and the Resilience and Sustainability Facility Arrangement, Requests for a Waiver of Nonobservance of a Performance Criterion, and Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Bangladesh, (USA: International Monetary Fund, 2023) accessed September 20, 2024

Summary

Bangladesh is navigating multi-faceted economic challenges. Russia’s war in Ukraine disrupted the strong economic recovery from the COVID-19 pandemic and threatened macroeconomic stability. Continued global financial tightening, coupled with existing vulnerabilities, has challenged near-term macroeconomic management. On the back of import compression, the current account deficit narrowed considerably. Nevertheless, amid an unprecedented reversal of the financial account, the overall balance of payments has deteriorated, leading to a continuous decline in foreign exchange reserves. Recent developments have underscored the need to expedite long-standing structural reforms to put the economy on an inclusive and green growth path.

Subject: Climate change, Commercial banks, Environment, External debt, Financial institutions, International organization, Monetary policy, Public debt, Revenue administration

Keywords: Austerity measure, Climate change, Climate policy reform, Commercial banks, Decision- making capacity, Global, Inflation expectation, Net financing requirement, Policy transmission, Weight update

Publication Details

  • Pages:

    127

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2023/409

  • Stock No:

    1BGDEA2023003

  • ISBN:

    9798400260315

  • ISSN:

    1934-7685

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