Bangladesh is optimistic about reaching a new loan agreement with the International Monetary Fund (IMF), although the proposed loan size, conditions and disbursement timeline remain undecided, Finance Minister Amir Khosru Mahmud Chowdhury said on Monday.
The government is committed to restoring economic stability and financial discipline and implementing necessary reforms, he told reporters after meeting World Bank Vice President for South Asia Johannes Zutt in Bangkok.
The meeting took place on the sidelines of the annual meetings of the IMF and the World Bank Group, which began in the Thai capital on Monday.
Discussions focused on Bangladesh’s economic situation, ongoing reform initiatives and future cooperation with development partners, according to the finance minister’s remarks.
Amir Khosru said the government was working to stabilise the economy, bring discipline back to the financial sector and implement the reforms needed to strengthen economic management.
The government is maintaining contact with international financial institutions to advance discussions on a new IMF loan agreement. However, no final decision has been reached on the amount of financing Bangladesh may receive, the conditions attached to it or when the funds could be disbursed.
These issues will be settled through ongoing negotiations, according to the report.
A new agreement would come as Bangladesh seeks to strengthen macroeconomic stability and address weaknesses in its financial sector. The outcome of the negotiations will depend on the terms agreed by the government and the IMF.
The IMF-World Bank annual meetings are being held in Bangkok from October 12 to 18, bringing together finance ministers, central bank governors and economic policymakers to discuss global economic challenges and development priorities.