A H M Mustafa Kamal Finance Minister A H M Mustafa Kamal on Wednesday said Bangladesh would not borrow from the International Monetary Fund (IMF) at this moment.
"Neither Bangladesh has sought any loan from the IMF nor has the Washington-based lender proposed (to give) any credit to us. We need not borrow at this moment. If it is needed in the future, we will look forward," he said while replying to journalists' queries.
Mr Kamal opined that Bangladesh would not borrow any money from the IMF, compromising the country's interest.
After meetings of the Cabinet Committee on Economic Affairs and the Cabinet Committee on Public Purchase, the finance minister was briefing journalists virtually about outcomes of the meetings.
When asked about the IMF's condition regarding the central bank's current foreign exchange calculation method, he said the central bank is maintaining a standard system like other countries and it would continue the current method.
"In the recent talks, we have assured the IMF that Bangladesh has never been a defaulter for any foreign loan, and we will repay all outstanding loans properly in the future days too."
"The IMF is a good organisation. A consultative team is now in Dhaka. The agency always advises Bangladesh on different necessary reforms to keep the economy stable. We always consider its better suggestions," the finance minister noted.
Regarding the IMF's vulnerability nations' list, Mr Kamal said if anybody says that Bangladesh is a vulnerable country, he would differ.
"You can ask those organisations or media who are branding Bangladesh as a vulnerable country. Actually, Bangladesh is on solid stance."
"Our foreign exchange reserve was only US$7.0 billion when this government took over in 2009. Now the reserve has stood at $40 billion."
About the inflationary pressure, the minister said the government does not consider the monthly inflation figures, rather the average one.
"You (media) are always highlighting the monthly inflation data. But you know the average inflation was much lower in the last fiscal. So, we are not much worried about the point-to-point inflation. Our average inflation rate is still in a comfortable zone," he added.
Meanwhile, the Cabinet Committee on Public Purchase approved two separate proposals for procuring 50,000 tonnes of wheat and some 30,000 tonnes of granular urea fertiliser.
After the meeting, Cabinet Division Additional Secretary Md Sabirul Islam told the reporters that the Ministry of Food would procure some 50,000 tonnes of wheat from a Singaporean company - Agrocorp International Pte Ltd - at a cost of Tk 2.09 billion.
The Bangladesh Chemical Industries Corporation (BCIC) would import 30,000 tonnes of granular urea fertiliser from SABIC Agri-nutrients Company, Saudi Arabia under a state-to-state agreement at Tk 1.67 billion.
He also said the meeting decided to appoint the joint venture of Northwest Hydraulic Consultants Ltd, Canada and Euro Consultant Mott Macdonald, Netherlands as a consultant at Tk 1.27 billion for the Flood and Riverbank Erosion Risk Management Investment Programme (Project-2).
The cabinet meeting approved the Mongla Port Authority's proposal for procuring design, supply and installation of port reception facility from Lamor Corporation PLC, Finland at Tk 1.11 billion as well as two oil recovery vessels including oil schemer, boom and ancillary equipments from the same company at Tk 810.8 million under the project for modern waste and released oil management.
The authority would also procure a modern MARIPOL waste collection vessel from Lamor Corporation at Tk 947.1 million.
Besides, the Bangladesh Inland Water Transport Authority (BIWTA) would procure a trailing suction hoper dredger from Scheepswerf Gebroeders Kooiman BV Lindtsedijk, Netherlands at Tk 2.36 billion, which was also approved in the meeting.
The additional secretary said the meeting approved two other proposals from the Ministry of Civil Aviation and Tourism for retendering as well as a variation proposal from the Local Government Division.
Earlier, the meeting of the Cabinet Committee on Economic Affairs rejected a proposal from the Dhaka Electric Supply Company Limited regarding distribution line in Purbachal model town.
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