No necessity of foreign credit now: Finance minister

Finance Minister AHM Mustafa Kamal
BSS file photo

Finance minister AHM Mustafa Kamal said there is no necessity of foreign loan at this moment and if necessary loan will be taken from International Monetary Fund (IMF).

The minister made these remarks while replying to queries from newsmen after a virtual meeting of the cabinet committee on government purchase on Wednesday.

Mustafa Kamal said, “The IMF did not any proposal of loan to Bangladesh formally in this phase and Bangladesh did not send any proposal either.”

“Many may have confusion that we will gain many things and strike a deal. If any loan is taken that will be done for the sake of the country. Loans will not be taken against the interest of the country. Nothing will be done compromising our own interest either,” he said.

The minister further said, "IMF delegation regularly visits Bangladesh and they give many advice that become useful for the government in many cases, so we take their advice."

“It is good that IMF always talks about some reform projects like we make many promises in budget and if that can be implemented it will be better for the country. If IMF makes such proposals then these will obviously be accepted,” he added.

“We have assured the IMF that they will never have to write off the loans that they are providing or will provide us because we have capacity to repay the loan and we never delayed loan repayment,” the minister said.