Finance Minister Abul Hassan Mahmood Ali announced that Bangladesh is set to receive the third tranche of its loan from the International Monetary Fund (IMF) by June.
The statement was made following a Sunday meeting with IMF Executive Director Krishnamurthy Venkata Subramanian at the Bangladesh Secretariat in Dhaka.
Minister Ali confirmed that the third tranche of the IMF’s $4.7 billion loan commitment would be disbursed without any hindrance.
During the meeting, the IMF reiterated the importance of addressing the issue of Non-Performing Loans (NPLs).
Minister Ali stressed the government’s commitment to tackling loan defaults and taking stringent measures against defaulters. He cited recent actions against high-profile defaulters, including a former Inspector General of Police (IGP) accused of unlawfully amassing wealth.
“We are taking actions against the loan defaulters and I want to grab the loan defaulters,” Ali asserted.
When asked about the feasibility of taking action against influential defaulters, he responded, “You’ve noticed that action is being taken against the former IGP for his alleged amassment of wealth.”The Finance Minister also identified several key challenges regarding the upcoming fiscal year (FY25) budget: containing inflation, increasing foreign currency reserves, and generating more revenue. He acknowledged the existing economic problems and outlined the government’s intent to address them through targeted budgetary measures.
