TohidA/MONA · Datasets at Hugging Face

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Secure management support, with Bank technical assistance, for Janata and Sonali banks

3

12/31/2003

MOD-DATE

At P1R1, test date delayed to May 31, 2004.

3

2003-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Secure management support, with Bank technical assistance, for Janata and Sonali banks

3

05/31/2004

NM

N/A

3

2004-05-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Reconstitution of Sonali's Board of Directors to meet BB's fit and proper test for board membership, and ensuring that at least two board members have relevant banking experience

4

12/15/2005

SB

N/A

3

4

2005-12-15

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

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

3

1

2003-09-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

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

3

2

2003-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

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

W

At P1R3, met in October 2004.

3

2004-09-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

BLANK

SPC

20.2

1.2. Revenue administration, including customs

Establishment in the NBR of an independent audit unit headed by an advisor of the rank and status of a member reporting directly to the Chairman

4

11/30/2005

PC

N/A

3

4

2005-11-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

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.

3

1

2004-04-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

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

M

N/A

3

2

2004-11-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

BLANK

SPC

25.2

6.2. Restructuring and privatization of financial institutions

Signature of final contract for appointment of financial advisor for Agrani Bank

3

12/15/2005

PC

N/A

3

2005-12-15

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2005-06-29

P1

R3

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

3

1

2003-11-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

PA

20.2

1.2. Revenue administration, including customs

Ministry of Establishments to approve the organogram for the VAT LTU.

3

Fourth Review Prior action

M

The organogram was approved on December 21, 2006

4

3

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

PA

20.4

1.4. Combined expenditure and revenue measures

Meeting end-March 2003 indicative benchmarks.

1

Program Prior Action

M

N/A

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

Head of the Audit unit in the NBR to be appointed with a rank and status of a member reporting directly to the Chairman

1

Fourth Review Prior action

M

N/A

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

2

Program Prior Action

M

N/A

4

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

3

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

PA

25.2

6.2. Restructuring and privatization of financial institutions

Redraft PWC's contract to give the existing consultants the authority to act as financial advisors for the eventual sale of Agrani bank in line with the program's structural performance criterion.

1

Fourth Review Prior action

M

Previously an SPC.

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

3

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

5

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

6

Third Review Prior action

M

N/A

4

6

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

PA

26

7. Exchange systems and restrictions (current and capital)

Adoption of floating exchange rate regime

1

Program Prior Action

M

N/A

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2003-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

2

2004-03-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SB

20.2

1.2. Revenue administration, including customs

Further improving LTU operations by introducing risk-based tax payer audit procedures, developing computerized support for LTU operations, and introducing a uniform taxpayer identification number.

3

04/30/2006

SB

N/A

4

3

2006-04-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2003-08-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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.

4

1

2004-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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.

4

2

2003-10-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

2

2004-01-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Secure management support, with Bank technical assistance, for Janata and Sonali banks

3

12/31/2003

MOD-DATE

At P1R1, test date delayed to May 31, 2004.

4

3

2003-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Secure management support, with Bank technical assistance, for Janata and Sonali banks

3

05/31/2004

NM

N/A

4

3

2004-05-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Reconstitution of Sonali's Board of Directors to meet BB's fit and proper test for board membership, and ensuring that at least two board members have relevant banking experience

4

12/15/2005

M

N/A

4

2005-12-15

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Announcement of preferred bidder for Rupali Bank in line with the agreed tender procedures and selection process for technical and financial evaluations.

5

06/30/2006

SB

N/A

4

5

2006-06-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SPC

20.1

1.1. Revenue measures, excluding trade policy

Finalize a comprehensive report reviewing all tax exemptions and incentives and evaluating the associated revenue losses.

1

04/30/2006

PC

N/A

4

1

2006-04-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SPC

20.2

1.2. Revenue administration, including customs

Establishment in the NBR of an independent audit unit headed by an advisor of the rank and status of a member reporting directly to the Chairman

1

11/30/2005

WMOD-PA

At P1R4, independent audit unit was established and the adviser selected on January 8, 2006. This SPC was upgraded to a prior action for the fourth review.

4

1

2005-11-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SPC

20.2

1.2. Revenue administration, including customs

Modernize and expand the Large Taxpayers Union to cover 1000 income taxpayers

2

09/30/2003

W

Complied on November 29, 2003

4

2

2003-09-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

3

12/31/2003

W

N/A

4

3

2003-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

09/30/2004

W

At P1R3, met in October 2004.

4

2004-09-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SPC

24.1

5.1. Public enterprise pricing and subsidies

Finalize a report quantifying all quasi-fiscal costs arising from prices below international levels in the energy and power sector, including the implicit subsidies and revenue foregone by underpricing of natural gas, and identifying measures to mitigate the impact of price adjustments on vulnerable groups.

1

04/30/2006

PC

N/A

4

1

2006-04-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

BLANK

SPC

25.2

6.2. Restructuring and privatization of financial institutions

Signature of final contract for appointment of financial advisor for Agrani Bank

1

12/15/2005

WMOD-PA

At P1R4, delays in divesting Rupali Bank were due to a court injunction. Revisions to the terms of reference of the consultants to include the role of financial advisor were completed on January 19, 2006. Upgraded to a PA for R4.

4

1

2005-12-15

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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)

2

04/30/2004

W

At P1R2, met in May 2004.

4

2

2004-04-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

3

11/30/2004

M

N/A

4

3

2004-11-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2006-12-31

N/A

2006-02-03

P1

R4

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

4

1

2003-11-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

20.2

1.2. Revenue administration, including customs

Ministry of Establishments to approve the organogram for the VAT LTU.

3

Fourth Review Prior action

M

The organogram was approved on December 21, 2006

5

3

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

20.4

1.4. Combined expenditure and revenue measures

Meeting end-March 2003 indicative benchmarks.

2

Program Prior Action

M

N/A

5

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

20.5

1.5. Debt Management

Align interest rates on all National Savings Certificates (NSC) instruments, including postal savings instruments

2

Second Review Prior action

M

N/A

5

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

Head of the Audit unit in the NBR to be appointed with a rank and status of a member reporting directly to the Chairman

4

Fourth Review Prior action

M

Previously an SPC

5

4

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Adoption by Government of bank-by-bank resolution strategies

6

Second Review Prior action

M

N/A

5

6

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Bangladesh Bank to extend MOUs with each nationalized commercial bank (NCB) for 2004, including lending limits, and targets for cash recovery from the 20 largest defaulters of each bank.

7

Second Review Prior action

M

N/A

5

7

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

25.2

6.2. Restructuring and privatization of financial institutions

Signature of the final contract for Rupali Bank's sales advisor

2

Second Review Prior action

M

N/A

5

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

25.2

6.2. Restructuring and privatization of financial institutions

Signature between bidder and government of final management support contract for Sonali Bank

3

Second Review Prior action

M

N/A

5

3

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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 Bank

4

Second Review Prior action

M

N/A

5

4

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

25.2

6.2. Restructuring and privatization of financial institutions

Hold pre-bid conference for short-listed firms for the Janata Bank management contract

5

Second Review Prior action

M

N/A

5

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

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

8

Third Review Prior action

M

N/A

5

8

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

25.2

6.2. Restructuring and privatization of financial institutions

Redraft PWC's contract to give the existing consultants the authority to act as financial advisors for the eventual sale of Agrani bank in line with the program's structural performance criterion.

9

Fourth Review Prior action

M

Previously an SPC

5

9

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

PA

26

7. Exchange systems and restrictions (current and capital)

Adoption of floating exchange rate regime

1

Program Prior Action

M

N/A

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

2

2023-09-23

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2003-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

2

2004-03-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

20.2

1.2. Revenue administration, including customs

Further improving Large Taxpayer Unit (LTU) operations by introducing risk-based tax payer audit procedures, developing computerized support for LTU operations, and introducing a uniform taxpayer identification number.

3

04/30/2006

M

At P1R5, proposed measures have been initiated.

5

3

2006-04-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

20.2

1.2. Revenue administration, including customs

Improving coordination between the VAT and income tax LTUs by: (i) implementing unified selection criteria; and (ii) conducting joint audits for at least one-third of eligible audits conducted during June 2006-February 2007.

4

03/31/2007

SB

N/A

5

4

2007-03-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

20.5

1.5. Debt Management

Separating the government's short-term cash liquidity needs from its debt-financing obligations by eliminating Bangladesh Bank's ad hoc Treasury System and introducing an auction mechanism that is market related with the amount of auctions preannounced (in line with MFD technical assistance recommendations).

1

11/30/2006

SB

N/A

5

1

2006-11-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Review and strengthen social programs designed to mitigate the impact on vulnerable groups of fuel price adjustments in line with the pricing formula introduced under the World Bank DSC.

1

12/31/2006

SB

N/A

5

1

2006-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Eliminate the deficiency in the net open foreign exchange positions of the Nationalized Commercial Banks in line with Bangladesh Bank's regulations.

1

12/31/2006

SB

N/A

5

1

2006-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

2

2003-08-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Contract new professional management for Agrani Bank

2

10/31/2003

MOD-DATE

At P1R1, test date delayed to January 31, 2004.

5

2

2003-10-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Contract new professional management for Agrani Bank

2

01/31/2004

NM

N/A

5

2

2004-01-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Secure management support, with Bank technical assistance, for Janata and Sonali banks

3

12/31/2003

MOD-DATE

At P1R1, test date delayed to May 31, 2004.

5

3

2003-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Secure management support, with Bank technical assistance, for Janata and Sonali banks

3

05/31/2004

NM

N/A

5

3

2004-05-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

4

12/31/2004

MOD-PA

At P1R3, met in May 2005.

5

4

2004-12-31

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Reconstitution of Sonali's Board of Directors to meet BB's fit and proper test for board membership, and ensuring that at least two board members have relevant banking experience

5

12/15/2005

M

N/A

5

2005-12-15

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Announcement of preferred bidder for Rupali Bank in line with the agreed tender procedures and selection process for technical and financial evaluations.

6

06/30/2006

MD

At P1R5, completed in late August 2006.

5

6

2006-06-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

SPC

20.1

1.1. Revenue measures, excluding trade policy

Finalize a comprehensive report reviewing all tax exemptions and incentives and evaluating the associated revenue losses.

5

04/30/2006

W

At P1R5, draft report submitted on April 30 was not complete. Revised report completed by end-August.

5

2006-04-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

1

2003-09-30

N/A

511

BANGLADESH

513

PRGF

2003-06-20

2,003

2006-06-19

2,006

2007-06-19

N/A

2006-10-27

P1

R5

L

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

5

2

2003-12-31

N/A