IMF left Bangladesh without any decision on the release of next tranches of a loan.
The global lender said such an agreement would pave the way for completing the combined third and fourth reviews
The visiting mission of the International Monetary Fund (IMF) is prioritising four conditions for releasing two instalments of an ongoing $4.7 billion loan programme, according to Finance Adviser Salehuddin Ahmed.
“If the IMF does not release the funds, we will have to boost revenue,” he added
The International Monetary Fund has deferred the release of the fourth tranche of the $4.7 billion loan to June instead of March as Bangladesh could not meet some prior conditions.
Two years after Bangladesh turned to the International Monetary Fund (IMF) for a $4.7 billion bailout to address its worsening macroeconomic pressures, the nation stands at a crossroads.
The International Monetary Fund will give Bangladesh $645 million in the fourth tranche under the $4.7 billion loan programme, taking the total disbursement to $2.31 billion.
The International Monetary Fund (IMF) has offered an additional $1 billion to Bangladesh but the government is pushing for at least $2 billion to implement the interim government’s reform agenda, narrow the deficit in the current account and shore up the dollar stockpile.
Bangladesh is on track to meet all 12 conditions set by the International Monetary Fund (IMF) to qualify for the fourth tranche of a $4.7 billion loan programme, only missing the revenue collection target.
The International Monetary Fund (IMF) is positive about lending an additional $3 billion to Bangladesh but the multilateral lender wants to know what reforms the interim government is planning to take.
Bangladesh is unlikely to fulfil the revenue collection target set by the International Monetary Fund (IMF) as part of its conditions for the fourth tranche of a $4.7 billion loan programme.
The International Monetary Fund has urged Bangladesh to strengthen the asset declaration process for public officials in order to combat high-level corruption effectively.
The funds will be added to the reserves in two days
Mansur, a former economist at the International Monetary Fund, said interest rates would rise. This may slow the economy further, but it is necessary to overcome the challenges.
The central bank took the decision as people have been struggling with the high level of prices for around two years.
Bangladesh yesterday made three major decisions to cushion the economy against critical risks such as stubborn inflation and depletion of foreign currency reserves.
The International Monetary Fund (IMF) emphasised more reforms in the banking sector and tax collections and reducing subsidies to help the economy turn around.
Thanks to bold reform measures taken by the authorities, the IMF has drastically slashed the Net International Reserves (NIR) requirement for Bangladesh for the fourth tranche of the $4.7 billion loans.
Bangladesh and Sri Lanka have received loan payouts from IMF, strengthening their buffers against risks to foreign exchange reserves
