IMF wants complete information on foreign debt of Bangladesh

The International Monetary Fund (IMF) has asked for the database of how much foreign debt Bangladesh has taken. Besides, the delegation that came to Bangladesh also wanted to know what method is used in the database.
IMF members asked for these information in a meeting with the Economic Relations Department (ERD) on Thursday (April 27).
In this context, ERD Secretary Sharifa Khan told reporters, IMF has asked us about the database related to loans. We have discussed that.
Has there been any discussion about the repaint? In response to such question, Sharifa Khan said, our repayment is still clear. There was no discussion about this.
He said, they asked us to know which database method to use. As we have said, Bangladesh follows the UNCTAD system.
However, another senior official of ERD said on condition of anonymity that the delegation also wanted to know whether an adjustment account had been opened with Russia or not. We said it was opened. And they wanted to know about the revised development budget.
The official said that there was not much discussion with the delegation. However, the senior officials of the organization will come to Bangladesh next October. Then they will take policy decisions. Nothing can be said before that.
It is known that Bangladesh has to fulfill 38 conditions, big and small, to take IMF loan. Most of the terms are related to the financial sector. Within the financial sector, there is a large part of the banking sector. A significant part of which is under the responsibility of the central bank. In this, the mission is verifying the implementation situation of the achievements till last March and those to be implemented between June and September.
Besides, what initiatives are there in the upcoming budget to implement the conditions that the government has promised to implement by June 2024, will also be reviewed.
The IMF approved a $4.7 billion loan proposal for Bangladesh on January 30. Out of this, $3.3 billion has been approved under the Extended Credit Facility (ECF) and Extended Fund Facility (EAF) and another $1.4 billion under the newly formed Resilience and Sustainability Facility (RSF). Three days after the approval of the loan proposal, the first installment was discounted at 476.2 million 70 thousand dollars. The IMF will pay the full amount of the loan in a total of seven installments over three and a half years till 2026.
Courtesy: Bangladeshpostsenglish