Bangladesh expects to complete IMF talks by January: Finance Minister

Bangladesh expects to complete its ongoing discussions and work with the International Monetary Fund (IMF) by January next year, Finance Minister Amir Khasru Mahmud Chowdhury has said.

He said working groups from both sides were engaged in the process and expected to complete it within the stipulated timeframe.

The finance minister made the remarks while speaking to reporters at the National Board of Revenue (NBR) building on Wednesday.

He said the economy was moving in a positive direction, with income tax collection growing by more than 14 per cent in the first quarter of the current fiscal year. Customs revenue also recorded growth of around 14 per cent.

However, VAT collection growth remained slower, partly due to the introduction of a quarterly return system. As a result, complete data for one month was not yet available, he said, expressing hope that VAT collection would pick up soon.

The minister said it was too early to assess overall revenue performance based on the first quarter alone, adding that a clearer picture would emerge after the remaining three quarters. He expressed optimism that the government would achieve its revenue target for the current fiscal year.

Asked about the gap between revenue collection and the target, he said the government was preparing expenditure plans after careful assessment to ensure taxpayers' money was not wasted.

“Every public expense must bring value and a return on investment. It must also create jobs. We are reviewing every spending plan with these goals in mind,” he said.

Asked about the timing of the next instalment of IMF funding, the minister said the programme was not merely about receiving loan disbursements but was part of a broader economic reform agenda.

He said the government was also working with other development partners, including the World Bank, the Asian Development Bank (ADB) and the Islamic Development Bank, while exploring different types of bonds to mobilise funds.