Bangladesh has approached the International Monetary Fund (IMF) for assistance in retrieving funds that have been illegally transferred out of the country.
"Specific means and processes through which the IMF will provide assistance will be determined at the organisation's board meeting in October," said Finance Adviser Dr Salehuddin Ahmed following a meeting with the visiting IMF Resident Representative Jayendu De on Tuesday (24 September).
In addition to seeking help with the recovery of embezzled funds, the government has also requested technical assistance from the IMF for reforms in the banking sector, the VAT and revenue structures, and the broader financial sector, he added.
Similar support has been sought from the World Bank and other international institutions.
Earlier that day, Jayendu De, along with an IMF delegation of nine members, participated in a meeting at the secretariat.
Dr Salehuddin further commented that while the government is keen to move forward by utilising its own resources in the economic sector, the IMF remains one of Bangladesh’s major development partners.
Consequently, the government aims to strengthen its economic relationship with the IMF.
The adviser also mentioned that discussions concerning reforms will extend beyond the IMF to other development partners.
