IMF has projected 5.5 percent GDP growth in 2023

IMF loan: Bangladesh expected to get second tranche in December

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Sources say that following Bangladesh’s request, the IMF may fresh fix the net reserves at USD 20 billion (USD 2000 crore), down from USD 18 billion (USD 1800 crore) at present. Under the loan terms, the IMF had set a reserve target of US$26.81 billion (US$2,681 crore) by June next year. This means the target for June could be reduced by more than US$6 billion (US$600 crore).

Asked whether the IMF was softening its stance, a finance division official said, “We told them that we had no option but to sell dollars from the reserves to meet the import costs. Bangladesh has to repay its foreign debt. I have never backed down.” That is why, to maintain this good reputation, the installments are being paid duly despite the crisis. Additionally, rising prices of commodities in the international market have also had a negative impact. Export revenues have not been up to the mark either.”

The IMF was also told that unless the revenue target of Tk 4,104 billion (Tk 4 lakh 10 thousand 400 crore) set for the National Board of Revenue (NBR) for the financial year 2023-24 is reduced, the conditions will remain in place. It will not be possible to complete. 160 billion taka (16,000 crore taka).

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