Govt won't take any funding against country's interest: Finance minister

Finance minister AHM Mustafa Kamal on Wednesday said that the government would never take any funding from any development partner which would ultimately go against the interest of the country, BSS reports.

"Someone may apprehend that we'll do such commitment or ink agreement which might not yield good results, but I can undoubtedly assure you that no such proposal has come yet. You will definitely know in such cases and we won't go for any such funding (from development partners) which will go against the interest of the country," he said.

The finance minister was speaking to newspersons virtually after chairing two separate meetings on the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Government Purchase (CCGP). Cabinet Division additional secretary Md Sabirul Islam also spoke at the briefing.

Asked about the outcomes of the visit of the IMF mission in Bangladesh, Kamal said neither the IMF nor the government put forwarded any formal proposal. "If there is any, you'll definitely know."

Replying to another questioner, he said that the government would definitely go for taking funding when it feels necessary. "But, right at the moment, we don't need such funding. We won't sacrifice our interest. We have commitments to our people and we'll definitely fulfil those."

The finance minister said that the consultative committee of IMF often visits the country and gives necessary suggestions to the government, adding that they often give some reforms related suggestions to the government which ultimately become beneficial.

He informed that the government has always made timely repayments of principal amount and interests to IMF while there was no delay in the past. "We've always assured them that they won't have to lay off our loans as our loan repayment capacity is very good."

Replying to another question, Mustafa Kamal said that the amount of foreign currency reserves is being calculated in Bangladesh like elsewhere of the world.

When asked about the current economic situation of the country, the finance minister said there is no denying the fact that the global economy is now passing through a tough time. "But, we're constantly keeping information as whatever is going on in the world so that we can accommodate ourselves."

Referring to the record nine-year high 7.56 per cent average general point to point inflation in the country in June, the finance minister said many became anxious hearing the news, but the average yearly inflation is still 5.9 per cent.

He said that when the Awami League government assumed office in 2009, the general point to point inflation was 12.3 per cent.

Mustafa Kamal further said the foreign currency reserves even reached $48 billion in the country which was only $7.9 billion in 2009. "Despite ups and downs, the foreign currency reserve is still hovering around $40 billion. People should know the exact facts.

He also suggested the media workers to know from the World Bank and IMF about their perception and opinion on Bangladesh.