IMF approves $4.5 billion loan for Bangladesh

The International Monetary Fund (IMF) has approved $4.5 billion loan proposal for Bangladesh.

The approval was given at a meeting of the IMF’s executive board held at 9pm (Bangladesh time) on Monday (January 30).

Finance Minister AHM Mustafa Kamal issued a statement confirming the loan approval.

In the statement, the finance minister said, “We are certainly grateful to the IMF for this loan. Special thanks and appreciation to the team that visited Bangladesh on this loan, including IMF Deputy Managing Director (DMD) Antoinette Monceau Sayeh and Head of Mission Rahul Anand.” 

“I also express my gratitude to Bangladesh Bank Governor Abdur Rauf Talukder and Finance Department Senior Secretary Fatima Yasmin and other concerned officials of the Ministry of Finance who worked on this loan programme,” he added. 

The finance minister further said, “Many doubted that the IMF might not give us this loan. They thought the fundamental areas of our macroeconomy were weak, so the IMF would refrain from lending. This loan approval also proves that the fundamental areas of our macroeconomy are standing on a solid foundation and are better than many other countries.”