IMF delegation meets BGMEA leaders, seeks assessment of garment industry challenges

A visiting International Monetary Fund (IMF) delegation today (5 November) met with leaders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in the capital’s Uttara to discuss the current status and future risks of the country’s ready-made garment (RMG) sector.

The meeting was attended by BGMEA President Mahmud Hasan Khan Babu and other top leaders of the apex trade body of the country’s apparel industry.

According to a BGMEA statement, the IMF’s main objective was “to be informed about the current status and future risks of the garment sector to ensure the stability of Bangladesh’s macroeconomic environment.”

The discussion also explored strategic ways for the industry to grow amid global uncertainties.

Key topics included the potential impact of US tariffs on exports, Bangladesh’s upcoming graduation from Least Developed Country (LDC) status, strategies for sustainable growth, diversification into value-added products, and the broader effects of global economic conditions.

The IMF delegation comprised Senior Economists Qiaoe Chen and Ruifeng Zhang and Economist Ayah Said.

The IMF review mission arrived in Dhaka on 29 October to assess whether Bangladesh has met the lender’s conditions despite the decision not to release the fifth tranche of the $5.5 billion loan during the tenure of the current interim government.

During its two-week visit, the IMF representatives will hold meetings with officials from the National Board of Revenue (NBR), the Ministry of Power, Energy and Mineral Resources, the Ministry of Agriculture, and several other government bodies.

According to the loan agreement signed between Bangladesh and the IMF, the fifth tranche of the loan is scheduled for disbursement in December.