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Assessed At
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11
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
PA
20.4
1.4. Combined expenditure and revenue measures
Meeting end-March 2003 indicative benchmarks.
1
Program Prior Action
M
N/A
0
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
PA
20.5
1.5. Debt Management
Liberalization of treasury bill rates, and adoption of a timetable and formula for linking the rate structure of the National Savings Cerficates to treasury bill rates
1
Program Prior Action
M
N/A
0
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
PA
20.6
1.6. Expenditure auditing, accounting, and financial controls
Issuance by Ministry of Finance of circulars to spending units specifying maximum quarterly expenditures that can be authorized, consistent with the program annual targets
1
Program Prior Action
M
N/A
0
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
PA
20.8
1.8. Budget preparation (e.g., submission or approval)
Submission to parliament of a budget for FY04 consistent with the fiscal targets under the program
1
Program Prior Action
M
N/A
0
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
PA
21.2
2.2. Central bank auditing, transparency, and financial controls
Adoption of a timetable for Bangladesh Bank to engage a local firm affiliated with an international accounting firm and with sign off by that international accounting firm, to conduct its audit for FY03 in accordance with international auditing and accounting standards
1
Program Prior Action
M
N/A
0
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
PA
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Issuance of directive by Bangladesh Bank to each nationalized commericcal bank on restrictions of new lending, in consultation with Bank and Fund staff
1
Program Prior Action
M
N/A
0
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
PA
26
7. Exchange systems and restrictions (current and capital)
Adoption of floating exchange rate regime
1
Program Prior Action
M
N/A
0
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
PA
27
8. International trade policy, excluding customs reforms
Adoption of a timetable for the removal of margin requirements on imports
1
Program Prior Action
M
N/A
0
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
SB
20.2
1.2. Revenue administration, including customs
Complete revamping the bonded warehouse system, including requiring bank guarantees for all imports going through the system
1
12/31/2003
SB
N/A
0
1
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
SB
20.2
1.2. Revenue administration, including customs
Expand the audit program to cover 1000 large taxpayers
2
03/31/2004
SB
N/A
0
2
2004-03-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
SB
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Contracts signed by MoF for audits of the four NCBs in accordance with international auditing and accounting standards
1
08/31/2003
SB
N/A
0
1
2003-08-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
SB
25.2
6.2. Restructuring and privatization of financial institutions
Contract new professional managment for Agrani Bank
1
10/31/2003
SB
N/A
0
1
2003-10-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
SB
25.2
6.2. Restructuring and privatization of financial institutions
Secure management support, with Bank technical assistance, for Janata and Sonali banks
2
12/31/2003
SB
N/A
0
2
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
SPC
20.2
1.2. Revenue administration, including customs
Modernize and expand the Large Taxpayers Union to cover 1000 income taxpayers
1
09/30/2003
PC
N/A
0
1
2003-09-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
SPC
20.2
1.2. Revenue administration, including customs
Make fully operational a Central Intelligence Audit and Monitoring Cell to monitor compliance of 1000 large taxpayers
2
12/31/2003
PC
N/A
0
2
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
SPC
25.2
6.2. Restructuring and privatization of financial institutions
Adopt resolution strategies for the four NCBs (in consultation with the Bank and Fund staff)
1
04/30/2004
PC
N/A
0
1
2004-04-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2003-06-20
P1
R0
E
SPC
26
7. Exchange systems and restrictions (current and capital)
Phase out margin requirements on the opening of letters of credit for imports
1
11/30/2003
PC
N/A
0
1
2003-11-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
PA
20.3
1.3. Expenditure measures, including arrears clearance
Finalization of MoF of the outstanding amount of government arrears, establishment of a monitoring system to prevent accumulation of new arrears, and a timetable for the elimination of existing arrears
1
Program Prior Action
M
N/A
1
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
PA
20.4
1.4. Combined expenditure and revenue measures
Meeting end-March 2003 indicative benchmarks.
1
Program Prior Action
M
N/A
1
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
PA
20.5
1.5. Debt Management
Liberalization of treasury bill rates, and adoption of a timetable and formula for linking the rate structure of the National Savings Cerficates to treasury bill rates
1
Program Prior Action
M
N/A
1
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
PA
20.6
1.6. Expenditure auditing, accounting, and financial controls
Issuance by Ministry of Finance of circulars to spending units specifying maximum quarterly expenditures that can be authorized, consistent with the program annual targets
1
Program Prior Action
M
N/A
1
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
PA
20.8
1.8. Budget preparation (e.g., submission or approval)
Submission to parliament of a budget for FY04 consistent with the fiscal targets under the program
1
Program Prior Action
M
N/A
1
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
PA
21.2
2.2. Central bank auditing, transparency, and financial controls
Adoption of a timetable for the removal of margin requirements on imports
1
Program Prior Action
M
N/A
1
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
PA
21.2
2.2. Central bank auditing, transparency, and financial controls
Adoption of a timetable for Bangladesh Bank to engage a local firm affiliated with an international accounting firm and with sign off by that international accounting firm, to conduct its audit for FY03 in accordance with international auditing and accounting standards
2
Program Prior Action
M
N/A
1
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
PA
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Issuance of directive by Bangladesh Bank to each nationalized commericcal bank on restrictions of new lending, in consultation with Bank and Fund staff
1
Program Prior Action
M
N/A
1
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
PA
26
7. Exchange systems and restrictions (current and capital)
Adoption of floating exchange rate regime
1
Program Prior Action
M
N/A
1
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SB
20.2
1.2. Revenue administration, including customs
Complete revamping the bonded warehouse system, including requiring bank guarantees for all imports going through the system
1
12/31/2003
SB
N/A
1
1
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SB
20.2
1.2. Revenue administration, including customs
Expand the audit program to cover 1000 large taxpayers
2
03/31/2004
SB
N/A
1
2
2004-03-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SB
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Contract new professional managment for Agrani Bank
1
10/31/2003
MOD-DATE
At P1R1, test date delayed to January 31, 2004.
1
1
2003-10-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SB
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Contract new professional managment for Agrani Bank
1
01/31/2004
SB
N/A
1
1
2004-01-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SB
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Contracts signed by MoF for audits of the four NCBs in accordance with international auditing and accounting standards
2
08/31/2003
M
N/A
1
2
2003-08-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Secure management support, with Bank technical assistance, for Janata and Sonali banks
1
12/31/2003
MOD-DATE
At P1R1, test date delayed to May 31, 2004.
1
1
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Secure management support, with Bank technical assistance, for Janata and Sonali banks
1
05/31/2004
SB
N/A
1
1
2004-05-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Bring Rupali Bank to point of sale by issuing an information memorandum to the public
2
12/31/2004
SB
N/A
1
2
2004-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SPC
20.2
1.2. Revenue administration, including customs
Modernize and expand the Large Taxpayers Union to cover 1000 income taxpayers
1
09/30/2003
W
Complied on November 29, 2003
1
1
2003-09-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SPC
20.2
1.2. Revenue administration, including customs
Make fully operational a Central Intelligence Audit and Monitoring Cell to monitor compliance of 1000 large taxpayers
2
12/31/2003
PC
N/A
1
2
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SPC
20.2
1.2. Revenue administration, including customs
Expand the LTU system, to cover withholding income tax and VAT, and expand the current list of taxpayers; coverage of the relevant taxes will be defined by the second PRGF review
3
09/30/2004
PC
N/A
1
3
2004-09-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SPC
25.2
6.2. Restructuring and privatization of financial institutions
Adopt resolution strategies for the four NCBs (in consultation with the Bank and Fund staff)
1
04/30/2004
PC
N/A
1
1
2004-04-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SPC
25.2
6.2. Restructuring and privatization of financial institutions
Agree on action plans with the managements of Sonali, Janata, and Agrani, covering the period to June 2005, to operationalize the resolution strategies for each bank
2
11/30/2004
PC
N/A
1
2
2004-11-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-01-09
P1
R1
BLANK
SPC
26
7. Exchange systems and restrictions (current and capital)
Phase out margin requirements on the opening of letters of credit for imports
1
11/30/2003
M
N/A
1
1
2003-11-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
20.3
1.3. Expenditure measures, including arrears clearance
Finalization of MoF of the outstanding amount of government arrears, establishment of a monitoring system to prevent accumulation of new arrears, and a timetable for the elimination of existing arrears
1
Program Prior Action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
20.4
1.4. Combined expenditure and revenue measures
Meeting end-March 2003 indicative benchmarks.
1
Program Prior Action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
20.5
1.5. Debt Management
Liberalization of treasury bill rates, and adoption of a timetable and formula for linking the rate structure of the National Savings Cerficates to treasury bill rates
1
Program Prior Action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
20.5
1.5. Debt Management
Align interest rates on all NSC instruments, including postal savings instruments
2
Second Review Prior action
M
N/A
2
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
20.6
1.6. Expenditure auditing, accounting, and financial controls
Issuance by Ministry of Finance of circulars to spending units specifying maximum quarterly expenditures that can be authorized, consistent with the program annual targets
1
Program Prior Action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
20.8
1.8. Budget preparation (e.g., submission or approval)
Submission to parliament of a budget for FY04 consistent with the fiscal targets under the program
1
Program Prior Action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
20.8
1.8. Budget preparation (e.g., submission or approval)
Submit to parliament a FY05 budget consistent with the fiscal targets under the program.
2
Second Review Prior action
M
N/A
2
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
21.2
2.2. Central bank auditing, transparency, and financial controls
Adoption of a timetable for Bangladesh Bank to engage a local firm affiliated with an international accounting firm and with sign off by that international accounting firm, to conduct its audit for FY03 in accordance with international auditing and accounting standards
1
Program Prior Action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Issuance of directive by Bangladesh Bank to each nationalized commericcal bank on restrictions of new lending, in consultation with Bank and Fund staff
1
Program Prior Action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Adoption by Government of bank-by-bank resolution strategies
2
Second Review Prior action
M
N/A
2
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Bangladesh Bank to extend MOUs with each NCB for 2004, including lending limits, and targest for cash recovery from the 20 largest defaulters of each bank.
3
Second Review Prior action
M
N/A
2
3
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
25.2
6.2. Restructuring and privatization of financial institutions
Signature of the final contract for Rupali's sales advisor
1
Second Review Prior action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
25.2
6.2. Restructuring and privatization of financial institutions
Signature between bidder and government of final management support contract for Sonali
2
Second Review Prior action
M
N/A
2
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
25.2
6.2. Restructuring and privatization of financial institutions
Signature between bidder and government of final contract to secure new management team for Agrani
3
Second Review Prior action
M
N/A
2
3
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
25.2
6.2. Restructuring and privatization of financial institutions
Hold pre-bid conference for short-listed firms for the Janata management contract
4
Second Review Prior action
M
N/A
2
4
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
26
7. Exchange systems and restrictions (current and capital)
Adoption of floating exchange rate regime
1
Program Prior Action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
27
8. International trade policy, excluding customs reforms
Adoption of a timetable for the removal of margin requirements on imports
1
Program Prior Action
M
N/A
2
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
PA
27
8. International trade policy, excluding customs reforms
Adopt in the FY05 budget a three-tier customs duties structure with a maximum rate of 25 percent
2
Second Review Prior action
M
N/A
2
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SB
20.2
1.2. Revenue administration, including customs
Complete revamping the bonded warehouse system, including requiring bank guarantees for all imports going through the system
1
12/31/2003
M
N/A
2
1
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SB
20.2
1.2. Revenue administration, including customs
Expand the audit program to cover 1000 large taxpayers
2
03/31/2004
NM
N/A
2
2
2004-03-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SB
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Contracts signed by MoF for audits of the four NCBs in accordance with international auditing and accounting standards
1
08/31/2003
M
N/A
2
1
2003-08-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Contract new professional managment for Agrani Bank
1
10/31/2003
MOD-DATE
At P1R1, test date delayed to January 31, 2004.
2
1
2003-10-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Contract new professional managment for Agrani Bank
1
01/31/2004
NM
N/A
2
1
2004-01-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Secure management support, with Bank technical assistance, for Janata and Sonali banks
2
12/31/2003
MOD-DATE
At P1R1, test date delayed to May 31, 2004.
2
2
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Secure management support, with Bank technical assistance, for Janata and Sonali banks
2
05/31/2004
NM
N/A
2
2
2004-05-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Bring Rupali Bank to point of sale by issuing an information memorandum to the public
3
12/31/2004
SB
N/A
2
3
2004-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SPC
20.2
1.2. Revenue administration, including customs
Modernize and expand the Large Taxpayers Union to cover 1000 income taxpayers
1
09/30/2003
W
Complied on November 29, 2003
2
1
2003-09-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SPC
20.2
1.2. Revenue administration, including customs
Make fully operational a Central Intelligence Audit and Monitoring Cell to monitor compliance of 1000 large taxpayers
2
12/31/2003
W
N/A
2
2
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SPC
20.2
1.2. Revenue administration, including customs
Expand the LTU system, to cover withholding income tax and VAT, and expand the current list of taxpayers; coverage of the relevant taxes will be defined by the second PRGF review
3
09/30/2004
PC
N/A
2
3
2004-09-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SPC
25.2
6.2. Restructuring and privatization of financial institutions
Adopt resolution strategies for the four NCBs (in consultation with the Bank and Fund staff)
1
04/30/2004
W
At P1R2, met in May 2004.
2
1
2004-04-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SPC
25.2
6.2. Restructuring and privatization of financial institutions
Agree on action plans with the managements of Sonali, Janata, and Agrani, covering the period to June 2005, to operationalize the resolution strategies for each bank
2
11/30/2004
PC
N/A
2
2
2004-11-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
N/A
N/A
N/A
2004-07-28
P1
R2
BLANK
SPC
26
7. Exchange systems and restrictions (current and capital)
Phase out margin requirements on the opening of letters of credit for imports
1
11/30/2003
M
N/A
2
1
2003-11-30
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
20.2
1.2. Revenue administration, including customs
Conducting joint audits for income tax and VAT LTUs
1
Third Review Prior action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
20.2
1.2. Revenue administration, including customs
Transferring files to ensure minim coverage of 50 percent fo total VAT collection by NBR, covering at least the 1000 largest VAT filers
2
Third Review Prior action
M
N/A
3
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
20.3
1.3. Expenditure measures, including arrears clearance
Finalization of MoF of the outstanding amount of government arrears, establishment of a monitoring system to prevent accumulation of new arrears, and a timetable for the elimination of existing arrears
1
Program Prior Action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
20.4
1.4. Combined expenditure and revenue measures
Meeting end-March 2003 indicative benchmarks.
1
Program Prior Action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
20.5
1.5. Debt Management
Liberalization of treasury bill rates, and adoption of a timetable and formula for linking the rate structure of the National Savings Cerficates to treasury bill rates
1
Program Prior Action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
20.5
1.5. Debt Management
Align interest rates on all NSC instruments, including postal savings instruments
2
Second Review Prior action
M
N/A
3
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
20.6
1.6. Expenditure auditing, accounting, and financial controls
Issuance by Ministry of Finance of circulars to spending units specifying maximum quarterly expenditures that can be authorized, consistent with the program annual targets
1
Program Prior Action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
20.8
1.8. Budget preparation (e.g., submission or approval)
Submission to parliament of a budget for FY04 consistent with the fiscal targets under the program
1
Program Prior Action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
20.8
1.8. Budget preparation (e.g., submission or approval)
Submit to parliament a FY05 budget consistent with the fiscal targets under the program.
2
Second Review Prior action
M
N/A
3
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
21.2
2.2. Central bank auditing, transparency, and financial controls
Adoption of a timetable for Bangladesh Bank to engage a local firm affiliated with an international accounting firm and with sign off by that international accounting firm, to conduct its audit for FY03 in accordance with international auditing and accounting standards
1
Program Prior Action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
22
3. Civil service and public employment reforms, and wages
Public announcement by the Ministry of Finance that the overall increase in the government wage bill and pensions will be phased in over three years with the maximum increase contained to no more than 15 percent per year.
1
Third Review Prior action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Issuance of directive by Bangladesh Bank to each nationalized commericcal bank on restrictions of new lending, in consultation with Bank and Fund staff
1
Program Prior Action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Adoption by Government of bank-by-bank resolution strategies
2
Second Review Prior action
M
N/A
3
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Bangladesh Bank to extend MOUs with each NCB for 2004, including lending limits, and targest for cash recovery from the 20 largest defaulters of each bank.
3
Second Review Prior action
M
N/A
3
3
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
25.2
6.2. Restructuring and privatization of financial institutions
Bring Rupali to point of sale by issuing an information memorandum to the public
1
Third Review Prior action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
25.2
6.2. Restructuring and privatization of financial institutions
Signature of the final contract for Rupali's sales advisor
2
Second Review Prior action
M
N/A
3
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
25.2
6.2. Restructuring and privatization of financial institutions
Signature between bidder and government of final management support contract for Sonali
3
Second Review Prior action
M
N/A
3
3
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
25.2
6.2. Restructuring and privatization of financial institutions
Signature between bidder and government of final contract to secure new management team for Agrani
4
Second Review Prior action
M
N/A
3
4
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
25.2
6.2. Restructuring and privatization of financial institutions
Hold pre-bid conference for short-listed firms for the Janata management contract
5
Second Review Prior action
M
N/A
3
5
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
26
7. Exchange systems and restrictions (current and capital)
Adoption of floating exchange rate regime
1
Program Prior Action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
27
8. International trade policy, excluding customs reforms
Adoption of a timetable for the removal of margin requirements on imports
1
Program Prior Action
M
N/A
3
1
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
PA
27
8. International trade policy, excluding customs reforms
Adopt in the FY05 budget a three-tier customs duties structure with a maximum rate of 25 percent
2
Second Review Prior action
M
N/A
3
2
2023-09-23
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
SB
20.2
1.2. Revenue administration, including customs
Complete revamping the bonded warehouse system, including requiring bank guarantees for all imports going through the system
1
12/31/2003
M
N/A
3
1
2003-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
SB
20.2
1.2. Revenue administration, including customs
Expand the audit program to cover 1000 large taxpayers
2
03/31/2004
NM
N/A
3
2
2004-03-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
SB
25.1
6.1. Financial sector legal reforms, regulation, and supervision
Contracts signed by MoF for audits of the four NCBs in accordance with international auditing and accounting standards
1
08/31/2003
M
N/A
3
1
2003-08-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Bring Rupali Bank to point of sale by issuing an information memorandum to the public
1
12/31/2004
MOD-PA
At P1R3, met in May 2005.
3
1
2004-12-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Contract new professional managment for Agrani Bank
2
10/31/2003
MOD-DATE
At P1R1, test date delayed to January 31, 2004.
3
2
2003-10-31
N/A
N/A
N/A
N/A
511
BANGLADESH
513
PRGF
2003-06-20
2,003
2006-06-19
2,006
2006-12-31
N/A
N/A
2005-06-29
P1
R3
BLANK
SB
25.2
6.2. Restructuring and privatization of financial institutions
Contract new professional managment for Agrani Bank
2
01/31/2004
NM
N/A
3
2
2004-01-31
N/A
N/A
N/A
N/A