Bangladesh is doing well in IMF terms: Finance Minister

ZOOMBANGLA DESK: Finance Minister Abul Hassan Mahmood Ali said on Thursday that Bangladesh is doing well in line with the standards set by the International Monetary Fund (IMF) and the government has fulfilled most of the conditions given by the global lender.

He made the comment while talking to reporters after Resident Representative of the IMF in Bangladesh Jayendu De met him in his office on Thursday.

“They will assess the situation again in March. Hopefully, Bangladesh will get the third installment of the loan,” Ali said.

In reply to a query on Bangladesh having a deficit in reserves and revenue income within the terms of the IMF, the finance minister said that Bangladesh has mostly fulfilled the targets given by the IMF.

He said that it is good to merge weaker banks with the stronger ones, and it might happen.

“In advanced economies, there are frequent mergers. But so far, no such proposal has come here. Let the proposals come, then we will see,” he said.

In response to another question about whether any new budget support has been assured apart from installments, the finance minister said that they will look into the matter. “The situation is good, let’s see what happens, Bangladesh has passed the test.”

In response to another question about any signs that suggest that the economy is doing well, the finance minister said, “The economy is doing well gradually amid challenges, which is a positive thing.”

Regarding the determination of the exchange rates of US dollars, Ali said that the crawling peg system would be practised, and it would not be based on the market rate.

Separately, Canadian High Commissioner in Dhaka Lilly Nicholls had a meeting with the finance minister. (UNB)