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Bangladesh's BBS misses Dec deadline to publish GDP report of Q1 FY24

08 Feb '24
1 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • A December deadline to publish a GDP report for Q1 FY24 was missed by the Bangladesh Bureau of Statistics despite its officials being trained for the task.
  • The deadline was part of the conditions laid out by the IMF's structural reform programme for a $4.7-billion loan.
  • Government officials say the report will come out before the IMF's second review in April.
A December deadline to publish a gross domestic product (GDP) report for the first quarter (Q1) of this fiscal was missed by the Bangladesh Bureau of Statistics (BBS) despite its officials receiving training for the task.

The deadline was part of the conditions laid out by the structural reform programme set by the International Monetary Fund (IMF) for a $4.7-billion loan.

The move aimed at enhancing the monitoring and policymaking capacity of the country’s central bank, according to IMF. A second IMF review mission is scheduled to arrive in April to assess the targets met, before approving the third tranche of the loan.

The central bank has already announced two monetary policies in this fiscal: once in July and once in January.

Finance ministry officials told a domestic newspaper that the GDP report will be published before the second review by the IMF, and expressed optimism that the delay will not hinder receiving the loan installment.

Bangladesh publishes a provisional GDP report near the end of the fiscal, while the final report is published three to four months after the fiscal ends.

ALCHEMPro News Desk (DS)

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