July 18, 2024, 2:45 pm

FT Online

2019-06-15 23:09:04 BdST

IMF mission to visit Bangladesh on June 16-27

A mission of the International Monetary Fund (IMF) is scheduled to visit the country from June 16 (tomorrow) to June 27 to review the overall macro-economic situation.

The IMF Article IV Consultation Mission has already sought information on different macro-economic issues, including performance of the banking sector, from the authorities concerned, according to officials.

Rising trend of non-performing loans (NPLs), revised policy on loan classification and rescheduling along with good governance in the banking sector are likely to dominate the meetings between the central bank and the IMF mission, they added.

The Washington-based global agency's mission is expected to meet Finance Minister A H M Mustafa Kamal, the Bangladesh Bank (BB) Governor Fazle Kabir and senior officials of the Ministry of Finance (MoF) and the BB during the visit.

Different government agencies, like the MoF and the BB, are now analysing various macro-economic factors as part of their preparations to sit with the IMF mission.

"We're ready to face the IMF mission," a high official of the government told the FE on Friday.

He also said a number of issues, including foreign exchange reserve along with overall balance of payments (BoP) situation, will be discussed in the meetings with the IMF delegation members.

The mission is likely to discuss the latest situation of the public sector banks at a meeting with senior officials of the Financial Institutions Division, the official added.

Besides, the IMF mission is scheduled to meet top officials of a leading private commercial bank (PCB) and a foreign commercial bank (FCB) during its visit, according to the banking sector sources.

During the meetings, the five-member mission, led by Daisaku Kihara, Division Chief, South Asia 2 Division, Asia and Pacific Department, of the monetary watchdog, is likely to discuss possible impact of the latest developments on PCBs and FCBs.

The IMF officials will meet senior officials the PCB and the FCB as part of their overall assessment of the banking sector in Bangladesh, they added.

The mission is also scheduled to meet the representatives of various development partners during the visit.

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