IMF urges Bangladesh to increase power generation

• 14 years ago (2010-04-13)
• David Flin

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The International Monetary Fund (IMF) has urged Bangladesh to boost electricity generation through public-private partnerships to spur the overall economy. David Cowen, the IMF Mission Chief, said: “Water and power disruptions may have a potential impact on manufacturing and agriculture sectors.”

An IMF team visited Bangladesh recently to discuss budget developments and the near-term macroeconomic outlook. Cowen said: “The IMF’s outlook is broadly unchanged, with real economic growth expected to moderate slightly to 5 per cent, mainly due to sluggish exports.”

Ready-made garments are the principal export earner, and leading exporters have said that production has been hampered due to a severe shortage of electricity and natural gas. Bangladesh has a shortfall of 2000MW of electricity.

Bangladesh needs up to $12 billion worth of investment over the next five years to meet fast rising demand for energy and power that is growing at a rate of 8-10 per cent each year.