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Bangladesh should redirect subsidy money to help poor: IMF deputy

Antoinette Monsio Sayeh visits Dhaka ahead of board decision on $4.5bn loan

A woman collects garbage from a dump in Dhaka: The IMF's deputy managing director says Bangladesh should not be providing subsidies that benefit the wealthy.   © Reuters

DHAKA -- Bangladesh's government should cut a range of subsidies and redirect the money to more targeted assistance for the poor, the International Monetary Fund's deputy managing director said in an interview while visiting the cash-strapped South Asian country.

"A gradual reduction of fuel oil, electricity, gas and water subsidy is necessary to lower pressure on government spending," Antoinette Monsio Sayeh told Nikkei Asia this week. "These subsidies benefit rich people disproportionately more."

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