Food, oil prices main challenge for govt: IMF
Saturday, 26 April 2008

The International Monetary Fund (IMF) sees tackling the frenetic food and oil prices as the main challenge for the government in the next fiscal, as the interim regime gets down to the budgeting task, reports UNB.

International Monetary Fund Asia and the Pacific Department Adviser Thomas Rumbaugh made the remark after a meeting with Finance Adviser Dr Mirza Azizul Islam at his Planning Ministry office.

"There are many shocks from outside like food and oil price for the government this fiscal. Tackling these shocks in the right way is the main challenge for the government in the next fiscal," he said.

His observations came at a time when food and fuel caused concern for not only Bangladesh but also the whole of the world, especially the less-developed countries, for sharp price rises.

The IMF adviser praised the role of the National Board of Revenue (NBR) as the revenue collection increased significantly. He also said that the inflow of remittance is good and the export earning is picking up, although it little bit slowed down in the recent times.

"We also had discussions on general outlook of the next budget, further increase in revenue collection and expansion of safety net," Rumbaugh said.

Finance Adviser Dr Aziz, after the meeting with the donor- agency executive, told reporters that he had discussions on overall macroeconomic situation of the country.

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