IMF may lend $3.0b more

Adviser hopes, says lender inquisitive about current reform status under interim govt


FE REPORT | Published: September 01, 2024 23:51:39


Salehuddin Ahmed


International Monetary Fund (IMF) officials were found positive about a Bangladesh proposal seeking US$3.0 billion more in budget support in addition to the ongoing loan package, said the Finance and Commerce Adviser.
"The IMF wanted to know about the interim government's plans on reforms under the existing loan programme," Dr Salehuddin Ahmed Sunday told newsmen at his secretariat office in Dhaka.
Mr Ahmed held a virtual meeting with the IMF Mission Chief for Bangladesh, Chris Papageorgiou, on Thursday as the interim government thinks an increased support will be needed to bring back macroeconomic stability.
"I gave them hints that the reforms have started and we are committed to doing so," said the adviser.
He said the IMF officials had also inquired about plans for raising the tax-GDP ratio, one of the strings binding the ongoing loan package.
Mr Ahmed said he would have detailed discussions on the budget-support programme with the IMF managing director during the annual meetings in October in Washington, D.C.
A team of the Washington-headquartered development financier, IMF, will visit Bangladesh this month to review the progresses Bangladesh made in carrying out prescribed reforms under the ongoing $4.7-billion loan programme that the multilateral lender extended for restoring macroeconomic stability.
Replying to a query on Rooppur nuclear power-plant project, the adviser said the Russian ambassador in Bangladesh was positive on a proposal regarding a two-year extension before the start of repayment of loans.

syful-islam@outlook.com

Share if you like