IMF mission arrives in Dhaka to discuss loan conditions' fulfilment

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A review team of the International Monetary Fund (IMF) led by its senior economist in the Asia Pacific Department Rahul Anand have arrived in Dhaka to discuss progress on the fulfilments of the conditions for its 4.7 billion lending to the country and the measures the government has taken so far.

The delegation started holding talks with various government agencies on Wednesday and they were scheduled to hold meeting with finance ministry and Bangladesh Bank separately.

Sources concerned said finance secretary Md Khairuzzaman Mozumder will lead the delegation of the finance ministry at the meeting with the IMF team while the Bangladesh Bank governor and senior officials will join their meeting with the IMF delegation.

The Bangladesh Bank has fulfilled most of requirements for the IMF loan, but the central bank could not maintain the net foreign reserve and meet the revenue target as prescribed by this global lending agency.

Sources further said the central bank will now seek additional time for the reserve. Prior to this, the finance ministry also sought additional time from the IMF and the lending agency has been requested to release the second tranche of loan.

The IMF mission will stay in Bangladesh till 19 October.