The government has asked the International Monetary Fund (IMF) for a loan of 3 billion dollars. The organization’s delegation is coming on a six-day visit to Dhaka this month to review the overall situation regarding this loan. They will tour from 24 to 30 September.

Finance advisor Dr. held a virtual meeting with the high level of the IMF on August 29 to deal with the economic crisis in the changing state of the country. Salehuddin Ahmed. In that meeting, the proposal to increase the ongoing loan was presented.

A $4.7 billion loan facility with the IMF is in progress, with conditionality reform underway. Bangladesh has received 230 million 82 million dollars so far in three installments. The remaining amount will be available in four more installments till 2026.

Analysts say that there is no alternative to money for economic stability at this time. On the other hand, the IMF wants to see visible changes in the financial sector for new loans.

Research Director of the Center for Policy Dialogue (CPD). Khandkar Golam Moazzem said that these should not be commercial loans, because the government is not in a position to take commercial loans. We have entered a debt-to-debt rut. No matter how simple the terms, the loan repayment structure is not a good sign. Rather it indicates a vicious cycle.

IMF emphasizes financial sector reform initiatives in lending. In this case, good governance of the banking sector, automation of the revenue sector, relief in the capital market, investment environment, use of money are important. If the amount of the loan increases, the payment pressure will also increase. But at this time there is no alternative to money.

Dr. Khandaker Golam Moazzem also said that there is a kind of relationship with the IMF’s policy of pro-business, pro-reform. The current government has tried to introduce several positive reforms in various areas on a comprehensive basis within a month of coming to power. We see initiatives to reform the central bank and banks as well as the reform of the NBR. Internal revenue can be increased if reform initiatives are undertaken in the revenue sector.

Nasir Uddin Ahmed, the former chairman of NBR, said that if the tax administration can be strengthened, as the IMF has done with some African countries, it is possible to increase the revenue by 2-3 percent of the GDP.

In response to a question at a press briefing in Washington last Friday, Julie Kozak, director of the IMF’s communications department, said, “On behalf of the IMF, we are working closely with the interim government of Bangladesh.” An IMF delegation will visit Bangladesh in late September as a fact-finding staff mission and to discuss the recent economic situation. The mission will review the overall economic situation and potential financing needs of Bangladesh.

He further said that we are fully committed to work with Bangladesh and help the people of the country under the IMF programme. We will continue to work closely with the Government of Bangladesh to advance the reform agenda.