IMF team due in Dec to review Bangladesh's fourth tranche of $4.7b loan
The International Monetary Fund (IMF) is sending a team within the first week of December to review whether Bangladesh qualifies for the fourth tranche of a 4.7 billion Us dollar loan programme.
The IMF delegation, led by mission chief Chris Papadakis, will also provide recommendations on reforms necessary for Bangladesh to secure an additional $3 billion loan requested by the interim government to strengthen its foreign exchange reserves.
During a recent meeting at the IMF headquarters in Washington, IMF officials informed Finance Adviser Salehuddin Ahmed about these plans. Ahmed, who is currently leading a Bangladeshi delegation in the U.S. for the IMF and World Bank annual meetings, discussed the ongoing progress and future steps.
'Bangladesh is advancing well on the $4.7 billion loan program, and discussions continue toward the next review,' stated Krishna Srinivasan, director of the IMF’s regional office for Asia and the Pacific, at a press conference on October 24, addressing the region’s economic outlook.
Srinivasan noted that further discussions in Dhaka and Washington are planned to explore financing approaches, which will form part of the upcoming review.
The IMF mission will assess whether Bangladesh has met seven criteria for the fourth installment, set for June this year. While most conditions have been fulfilled, the government has yet to reach the specified tax collection target of Tk 394,530 crore set by the IMF.
.png "Advertisement")
