Decision on Bangladesh's next loan tranche likely on 5 May at IMF meeting: NBR chief
The staff-level meeting will determine whether the loan will be approved, with the final decision expected during the IMF board meeting on 23 May, he says
Highlights:
- Final decision expected during the IMF board meeting on 23 May
- Bangladesh hopeful of positive decision
- Setting market-driven exchange rate, a condition for IMF loan, remains point of disagreement
Bangladesh may receive a decision regarding the next tranche of its IMF loan during a meeting in Washington on 5 May, National Board of Revenue (NBR) Chairman Abdur Rahman Khan said today (29 April).
Speaking to reporters after a seminar in Dhaka's Paltan, the NBR chairman said the staff-level meeting will determine whether the loan will be approved, with the final decision expected during the IMF board meeting on 23 May.
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"We are hopeful that a positive decision will be made regarding the loan tranche," he added.
Abdur Rahman further confirmed that negotiations with the IMF are still ongoing, with major disagreements centring the issue of opening up the exchange rate.
The seminar, titled "Macroeconomic Perspective and Fiscal Measures," was jointly organised by the Economic Reporters' Forum (ERF) and the Foreign Investors' Chamber of Commerce and Industry (FICCI).
IMF was initially expected to announce its decision regarding the loan tranche during the current round of discussions.
Responding to a question, the NBR chairman reiterated, "There has been no agreement yet, but the window of opportunity is still open."
Other speakers at the seminar included Policy Exchange Bangladesh Chairman Dr M Mashrur Reaz, FICCI Executive Director TIM Nurul Kabir, ERF President Doulot Akter Mala and ERF General Secretary Abul Kashem.
