IMF suggests raising power, gas and fertiliser prices

The International Monetary Fund (IMF) mission in Bangladesh has recommended reducing government subsidies on power, gas, and fertilizer, and utilizing the savings for social safety net programs. It proposed including more poor people in the programs and increasing their monthly allowances. The IMF also advised reducing state-owned banks’ classified loans, taking action against willful defaulters, and implementing market-based interest and exchange rates. The mission’s visit aims to review the $4.7 billion loan program before releasing the third tranche.