Bangladesh isn’t bankrupt, time needed to resolve problems: Finance minister

Despite some persistent crises in the economy, Bangladesh has started to resume its journey towards development, overcoming all issues, thinks finance minister Abul Hasan Mahmood Ali.

The finance minister was speaking to the media after Arnoud Hameleers, country director for Bangladesh of International Fund for Agricultural Development (IFAD), paid him a courtesy call at his secretariat office Monday.

“Bangladesh has not gone bankrupt; there are some crises as well as attempts to resolve those. We are back on track, the situation is improving. But it’s not that there will be solutions overnight following the constitution of the new cabinet. It will take some time,” said the minister.

Speaking to the media, Arnoud Hameleers said IFAD has been conducting seven projects worth US $2 billion in Bangladesh. At the same time, initiatives have been taken to help the marginal farmers market their products.

Speaking about this, finance minister Abul Hasan Mahmood Ali said, “There is a problem regarding the marketing of farm products in the country. A product changes several hands from the farmer level to the consumer level, which creates the middlemen. The government has been trying to change this trend. IFAD is helping us in this case. We are working with some other development partners as well. The development partners come to us with various ideas. We discuss them and then finalise a project jointly.”

Earlier, the French government’s special envoy on climate change Stephane Crouzhat paid a courtesy call on the finance minister.

He informed the minister that his country provided Bangladesh a total of €1 billion, including loan and grant, to fight climate change risks.

Japan ambassador to Bangladesh Iwama Kiminori also held a courtesy meeting with the finance minister and pledged to remain alongside Bangladesh for its economic development.