Published: 09 Aug 2022, 08:39 pm
Bangladesh seeks a total of 4.5 billion US dollars from the International Monetary Fund (IMF) to finance projects to combat the effects of climate change and to cover budget deficits. Which is like Tk 42 thousand 750 crore in local currency (95 taka per dollar).
Under this package, Bangladesh has sought $1.5 billion from the
organization in the first installment. This money is equal to about Tk 14
thousand 250 crore of Bangladesh. Finance Minister AHM Mustafa Kamal said these
things to FTD.com.
the IMF said, the total amount of loans that can be given to Bangladesh has not
been finalized yet. Discussion is going on in this regard.
Minister Mustafa Kamal said that Bangladesh is now seeking $4 billion from the
World Bank, Asian Development Bank (ADB), Asian Infrastructure Investment Bank
(AIIB) and Japan International Cooperation Agency and other multinational and
bilateral lenders. He mentioned that he is optimistic about getting these loans
Minister said, everyone is suffering, we are also under pressure. However,
Bangladesh is not in danger of defaulting like Sri Lanka. Don't even think
about such a situation.
the finance minister has shown a cautious attitude about borrowing through
China's Belt and Road Initiative (BRI). He warned developing countries that
China should at least think twice before taking BRI loans.
global inflation and slowing growth are putting pressure on indebted emerging
Minister AHM Mustafa Kamal also said that poor borrowing decisions risk pushing
indebted countries into crisis. For that, China needs to focus on evaluating
their loans. Pointing to Sri Lanka, he said Chinese aided infrastructure
projects have failed to deliver the desired results and have exacerbated the
economic crisis in Sri Lanka.