IMF Delegation to Visit as Bangladesh Misses Revenue Target

IMF Delegation to Visit as Bangladesh Misses Revenue Target

A delegation from the International Monetary Fund (IMF) is set to visit Dhaka later this month amid concerns over Bangladesh’s revenue collection and ongoing loan programme conditions.

The IMF mission, led by Chris Papageorgiou, Head of the Development Macroeconomics Division, will arrive on 29 October and stay for two weeks. The team will meet key government bodies, including Bangladesh Bank, the Finance Division, the National Board of Revenue (NBR), the Power Division, and the Energy and Mineral Resources Division, to review progress on the programme’s conditions.

Bangladesh requested a USD 4.7 billion loan package in January 2023, of which USD 3.64 billion has been disbursed across five instalments. In June 2025, the IMF extended the programme by six months and approved an additional USD 800 million, increasing the total facility to USD 5.5 billion over eight instalments. The programme is now set to conclude in January 2027, with USD 1.86 billion remaining to be released.

The upcoming mission will focus on Quantitative Performance Criteria (QPCs), including limits on external borrowing, clearing energy and fertiliser import arrears, maintaining adequate foreign exchange reserves, and meeting revenue targets.

While Bangladesh has successfully met targets for foreign exchange reserves and arrears clearance, revenue collection remains a concern. The NBR’s target for June was BDT 4.43 trillion, but actual collection stood at BDT 3.78 trillion, marking a repeated shortfall. Former World Bank economist Zahid Hussain noted that if revenue targets are again missed, Bangladesh may need a waiver, though approval is not guaranteed.

In addition, IMF discussions may cover changes in exchange rate management and existing loan rescheduling policies.

Under the revised instalment plan, Bangladesh is now expected to receive USD 430 million each for the sixth and seventh instalments, with the final instalment of USD 1 billion scheduled for January 2027. The previous plan had slated USD 530 million for the sixth and seventh instalments, but delays in IMF Executive Board meetings have prompted the revision.

Bangladesh Bank Governor Ahsan H. Mansur said detailed discussions with the visiting IMF delegation would focus on reform implementation. “The instalment itself is not of paramount importance. What matters most is the effective execution of reforms in the banking and revenue sectors,” he said.

The upcoming visit will thus review both financial progress and structural reforms, determining whether Bangladesh can continue receiving future loan disbursements on schedule.