IMF Team Meets BGMEA To Discuss RMG Sector Risks And Post-LDC Transition
A delegation from the International Monetary Fund (IMF) met with leaders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in Uttara, Dhaka, on 5 November to discuss the current state of the country’s ready-made garment (RMG) sector and the challenges ahead. The meeting was attended by BGMEA President Mahmud Hasan Khan Babu along with senior leaders of the association.
According to BGMEA, the IMF delegation aimed to gain a deeper understanding of the RMG industry’s performance and the risks that could influence Bangladesh’s broader macroeconomic stability. The discussion centred on several key issues, including the potential impact of US tariffs on garment exports and the implications of Bangladesh’s upcoming graduation from Least Developed Country status, which will alter trade preferences in major markets.
Both sides also discussed strategies to support sustainable industry growth, particularly through diversification into higher value-added and premium apparel products. The conversation further touched upon the global economic slowdown and its effects on international demand for garments.
The IMF team included Senior Economists Qiaoe Chen and Ruifeng Zhang, along with Economist Ayah Said. The delegation is currently in Dhaka as part of a review mission linked to the ongoing $5.5 billion IMF loan programme. Although the fifth tranche has not yet been released during the interim government’s term, consultations are continuing.
During the two-week stay, the IMF representatives are also scheduled to meet officials from the National Board of Revenue (NBR), the Ministry of Power, Energy and Mineral Resources, the Ministry of Agriculture, and other government agencies. Under the loan agreement, the fifth tranche is expected to be disbursed in December.
