Bangladesh: Second Reviews Under the Extended Credit Facility Arrangement and the Arrangement Under the Extended Fund Facility, and Requests for Rephasing of Access, a Waiver of Nonobservance of a Performance Criterion, and Modifications of a Performance Criterion, and Second Review Under the Resilience and Sustainability Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Bangladesh

International Monetary Fund

No 2024/186, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Bangladesh’s Second Reviews under the Extended Credit Facility Arrangement and the Arrangement under the Extended Fund Facility, and Requests for Rephasing of Access, A Waiver of Nonobservance of a Performance Criterion, and Modifications of a Performance Criterion, and Second Review under the Resilience and Sustainability Facility Arrangement. Bangladesh’s economy continues to face multiple challenges. Stubbornly high international commodity prices and continued global financial tightening have amplified macroeconomic vulnerabilities. Near-term policies should focus on rebuilding external resilience and bringing down inflation. The authorities’ recent actions to realign the exchange rate and implement the new exchange rate arrangement are welcome. Ongoing reforms to modernize the monetary policy framework and improve policy transmission will foster macroeconomic stability. Building resilience to climate change and natural disasters is a priority for achieving high, inclusive, and green growth. Strengthening institutions and policy coordination, improving climate spending efficiency, and mobilizing climate financing remain crucial. The launch of the Bangladesh Climate and Development Platform in collaboration with development partners is a welcome development.

Keywords: inflation expectation; devolved climate finance approach; policy recommendation; Policy discussion; government project; climate resilience; upgrade policy approach; risk rating; SOE debt; policy coordination; loan write-off policy; policy transmission; Climate change; Commercial banks; Exchange rate arrangements; Credit; Global (search for similar items in EconPapers)
Pages: 118
Date: 2024-06-24
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