Finance Adviser Salehuddin Ahmed a meeting with Martin Raiser, Vice-President for the South Asia Region of the World Bank, at the secretariat in Dhaka on Friday. Photo: Collected
Finance Adviser Salehuddin Ahmed has asserted that the interim government is not desperate for loans from international donor agencies and will not accept all their conditions, emphasizing that Bangladesh's economy is currently performing well.
The statement came after a meeting with Martin Raiser, Vice-President for the South Asia Region of the World Bank, at the secretariat in Dhaka on Friday (9 February).
"The country's economy is doing well right now. The state of financial accounts and current account balance are good. So, the government is not desperate for loans from donor agencies by accepting all conditions," Salehuddin told journalists during a press briefing.
Martin Raiser, who arrived in Dhaka on a four-day visit, is scheduled to hold several meetings with top officials of the interim government. During the meeting with Salehuddin, discussions focused on Bangladesh's economic reforms, tax administration, and upcoming budget preparations.
When asked about the International Monetary Fund (IMF) potentially delaying the release of its next loan installment to Bangladesh, Salehuddin clarified that no such decision had been communicated to the government. "A meeting with the IMF is scheduled for March. We hope the IMF is on track," he said.
The Finance Adviser highlighted that the government has fulfilled several priorities set by the World Bank, including separating tax policy and tax administration under the National Board of Revenue (NBR), increasing revenue collection, and reducing tax exemptions. "The government will hold a meeting with the World Bank next June. They had some priorities, which Bangladesh has fulfilled," he added.
Martin Raiser, addressing journalists after the meeting, praised Bangladesh's progress in key reform areas, including tax administration, government procurement, access to information, and the independence of the Bangladesh Bureau of Statistics. "People want to see the government doing all these things," he said.
Raiser also emphasized the need for greater transparency and accountability in fiscal policies. "Discussion took place about separating the tax policy and tax administration of the NBR. The adviser told me that they are working on this. The World Bank is hoping to see visible progress on this in a few weeks or months," he said.
The World Bank official called for the introduction of a system where any new tax expenditure or tax system would require legal approval through the budget. He acknowledged the macroeconomic challenges facing Bangladesh but expressed optimism about the country's potential.
"Bangladesh has many possibilities. We hope the government will take the initiative to realize these possibilities," Raiser added.
The meeting underscores the interim government's commitment to maintaining economic stability and implementing reforms while avoiding over-reliance on external loans. As Bangladesh prepares for its upcoming budget and continues its engagement with international financial institutions, the focus remains on sustainable growth and self-reliance.
