IMF positive about sanctioning $3b more budget support: Salehuddin

Adviser to the interim government on the ministries of finance, commerce, science and technology Dr Salehuddin Ahmed on Sunday said that the International Monetary Fund (IMF) was positive about sanctioning $3 billion more budget support to Bangladesh.

“The IMF wanted to know about the interim government's plan to reform conditions of the $4.7 billion loans,” he told reporters at the Bangladesh secretariat today, Sunday.

Salehuddin went on saying, “I gave hints that we’ve already started our reforms and we’re committed … we told them that we won’t fail you (IMF), don’t worry.”

Responding to the concerns from the IMF, the adviser said that the government has certain plans to carry out reforms as well as boosting the tax-GDP ratio.

“We’ve hinted that we’re interested in another $3 billion budget support, and they are very positive. I will talk with the IMF managing director about it in Washington in October at the IMF board meeting,” he added.

The finance adviser said the IMF's review mission would be conducted in Bangladesh in September.

Replying to another question, Dr Salehuddin, also the adviser on ministry of science and technology, said that the Rooppur nuclear power plant project would continue.

He said Bangladesh sought two years of extension before starting to repay loans to Russia. “The Russian ambassador to Bangladesh is very positive in this regard,” he said.

The finance adviser said the Russian ambassador was worried about continuing the Rooppur project and loan repayment.

“I assured him that we will repay the loan installments regularly,” he added.
Earlier on 29 August, Resident Representative of IMF Jayendu De held a virtual meeting with the finance adviser.

Finance secretary Md Khairuzzaman Mozumder was also present at the meeting.