Bangladesh to Showcase Homegrown Reform Agenda at IMF-World Bank Annual Meetings

Bangladesh will outline its own economic reform agenda at the annual meetings of the International Monetary Fund (IMF) and the World Bank Group, which began here today, aiming to ensure that international cooperation reflects the country's economic conditions and policy priorities.

A high-level delegation led by Finance and Planning Minister Amir Khosru Mahmud Chowdhury is representing Bangladesh at the meetings, scheduled to take place at the Queen Sirikit National Convention Centre in Bangkok from October 12 to 18.

Other members of the delegation include 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.

Speaking to BSS, Dr Titumir said Bangladesh would present its own economic reform plan, outlining the country's structural challenges and the government's initiatives to address them in accordance with national priorities.

He said the government wanted to secure support from international financial institutions in ways that align with Bangladesh's economic circumstances 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 employment generation.

For Bangladesh, key priorities are expected to include improving governance in the banking sector, boosting revenue collection, creating a more favourable investment climate and securing financing for development initiatives.

The gathering will also offer the Bangladeshi delegation an opportunity to hold discussions with senior IMF and World Bank officials on the country's economic priorities, future financing requirements and potential areas of collaboration.

Talks with the IMF are likely to cover future lending arrangements and reform priorities, including addressing vulnerabilities in the banking sector, broadening the tax base, modernising tax administration and improving public expenditure efficiency.

Bangladesh aims to ensure that reforms are practical, implemented in phases and suited to prevailing economic conditions, while improving transparency, accountability and overall economic governance.

Diversifying development financing, attracting private investment and expanding the role of capital and bond markets in long-term funding are also high on the country's agenda. Alongside external borrowing, strengthening domestic resource mobilisation and tapping private capital are becoming increasingly important to meet Bangladesh's development financing needs.

Meanwhile, the World Bank's agenda includes discussions on leveraging artificial intelligence to generate employment and mobilising private capital to support development.

These issues are particularly significant for developing economies such as Bangladesh, which are working to increase productive investment, create jobs and strengthen economic competitiveness.

Bangladesh's participation in the annual meetings is expected to go beyond discussions on loans and financial assistance. It will provide a platform to communicate the country's reform priorities, reinforce confidence among international development partners and explore new opportunities for investment and development financing.

Maintaining national ownership of economic reforms while strengthening coordination with international partners could help Bangladesh tackle structural economic challenges and make progress towards its long-term development goals.