Finance Minister AMA Muhith said Tuesday that the government would like the International Monetary Fund (IMF) to come forward to assist the country in its efforts for reducing poverty, reports UNB.
Muhith said this when the visiting executive director of the IMF, Arvind Virmani, called on him at his Economic Relations Division (ERD) office.
The Finance Minister said the IMF's assistance for this purpose regard may be needed for a period of 10-12 years.
Briefing reporters after the meeting, Muhith said the IMF executive director raised three issues before him. The issues, he explained, were transparency, the IMF's mandate on how to design their macroeconomic surveillance, and increase of the quota on flexible financing for Bangladesh.
The IMF executive director assured the Finance Minister that the quota would be increased to 5.0 per cent, which is the maximum for any member country.
About the government's vision, the Finance Minister said that it wants to raise the level of public expenditure to 20 per cent of gross domestic product (GDP) from the present 16 per cent within the next five years.
In order to achieve this, there is, he said, no alternative to Public Private Partnership (PPP) projects. "Although we are late, PPP is the solution. The draft about a guideline on the PPP has already been prepared, and it will be implemented within this fiscal."
Muhith wants IMF aid to help reduce poverty
FE Team | Published: March 17, 2010 00:00:00 | Updated: February 01, 2018 00:00:00
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