IMF team to begin discussions Sunday on $4.7 billion loan tranches
StaffCorrespondent
On both the first and last days of their visit -- April 6 and April 17 -- the IMF delegation will meet Finance Advisor Dr Salehuddin Ahmed.Bangladesh has already received three tranches since the loan program began on January 30, 2023.
The country received $476.3 million in the first tranche on February 2, 2023, $681 million in the second tranche in December 2023, and $1.15 billion in the third tranche in June 2024.In total, Bangladesh has received about $2.31 billion from these three tranches, leaving the fourth and fifth tranches, totalling $2.39 billion, still pending.Meanwhile, in a pre-budget discussion with the Economic Reporters’ Forum (ERF), Finance Advisor Dr Salehuddin Ahmed emphasised the importance of the IMF loan for budgetary support.He said the government and the IMF have agreed to release the two installments for the fiscal year 2024-25 together.But sources indicate that there are three key obstacles preventing Bangladesh from receiving both installments of the IMF loan simultaneously: making the currency exchange rate a market-based one, raising additional revenue equal to 0.5% of GDP, and separating the revenue administration from the NBR's revenue policy.
