B Mirror Desk : In order to solve the macroeconomic crisis in the country, Bangladesh obtained the first installment of a loan from the International Monetary Fund (IMF) in January 2023. The loan’s fourth and fifth installments might arrive in June. However, in order to boost revenue collection, the organization has established provisions for all kinds of tax exemptions.

Under the financing program, there are also requirements to put a number of reforms and conditions into effect.
The IMF group has met with several high-level government agencies since coming in Bangladesh during the first week of this month, including the National Board of Revenue (NBR) and the Ministry of Finance. After noon on the final day of the visit, the team members had a meeting with Dr. Ahsan H. Mansur, the governor of Bangladesh Bank.

Representatives of the organization stated in a briefing at the conclusion of the meeting that in order to boost revenue collection, all forms of tax exemptions must be eliminated. However, because foreign exchange reserves are growing, IMF representatives are content with the market-oriented currency exchange rate.

According to them, Bangladesh may receive the fourth and fifth installments of the $4.7 billion loan in June of next year.

The IMF also commended Bangladesh for lowering inflation in spite of numerous international obstacles. The delegation did, however, issue a warning that Bangladesh would eventually face complex economic difficulties.

It is important to note that the reforms and criteria include raising revenue collection, establishing a market-based foreign exchange rate, and meeting net reserve management requirements. The IMF has adopted a very hard stance in the fourth and current review missions, despite the first three making compromises in this area ongoing mission.