B Mirror Desk : Despite continuing talks with the International Monetary Fund (IMF), Bangladesh Bank Governor Ahsan H. Mansur stated that borrowing money from the IMF is not crucial for the country’s economy.

“We have not yet reached a final deal with the IMF, but our position is not far off,” he said in an interview following a meeting with the IMF in Washington on Friday. Even in the absence of a deal, Bangladesh’s economy will function smoothly and there won’t be any significant issues.

This was said by Governor Mansur in an interview with Golam Mortoza, the Press Minister of the Bangladesh Mission, which he shared on Facebook early on Saturday, April 26.

Governor Mansur stated, “The IMF will just provide assistance; we must overhaul our own banking industry and foreign exchange market. We won’t accept the loan if we believe it won’t benefit us.

“Even if we do not receive the IMF’s balance of payments support, we will not face any issues,” Mansur stated. This is merely a bonus; it won’t be an issue if we don’t receive it. Right now, our reserves are doing well.

According to Mansur, the primary focus of the discussions with the IMF is reform, including the reform of the tax system and the banking sector. The primary goal is not money (loans).

Additionally, he stated that there are some discrepancies, primarily in matters concerning revenue collection and the currency rate. A reasonable revenue agreement has been reached. In our opinion, we don’t need to sell dollars because the market is presently stable.

We are neither Pakistan nor Sri Lanka, Governor Mansur declared. We are no longer under any need to take out loans. Six months ago, it might have been that way, but not today.

“The main purpose is to ensure the independence of the central bank to keep the economic sector free from political pressure,” he added, emphasizing the need of financial sector reforms at this time.

He mentioned that roughly 24–25 billion USD were laundered during the previous administration. Even if we receive some help in the form of an IMF loan, it will only amount to a few billion. Reforms are therefore the most crucial factor.

Speaking of other donors, Mansur stated that budget assistance loans typically have extra requirements, but project loans typically don’t.

To date, $2.31 billion has been disbursed under the IMF’s $4.7 billion loan program. An additional $2.39 billion is anticipated.