Dhaka //

Special Assistant to the Chief Advisor Anisuzzaman Chowdhury said that if the International Monetary Fund (IMF) imposes more conditions, Bangladesh will no longer be interested in taking this loan. Because if the country’s economy is to be further weakened if it accepts all the IMF’s conditions, it will be taken. He commented that Bangladesh will withdraw from the loan agreement if additional conditions are imposed for the next installment of the $4.7 billion loan.

He said this at a seminar on budget held at the Bangladesh Agricultural Research Council auditorium at Farmgate in the capital on Saturday. At the seminar, agricultural economists urged the government to increase the budget for the agricultural sector and set specific targets. They also recommended reducing VAT on the import of raw materials used in the poultry sector, increasing the opportunities for farmers to obtain loans on easy terms and incentives.

Anisuzzaman Chowdhury said that Bangladesh is finally going to be recognized as a developing country by 2026. To prepare for this, several doors of the economy have to be opened. Reforms have to be made in many sectors.

In the context of the decline in foreign exchange reserves due to the global recession, Bangladesh signed a $4.7 billion loan agreement with the IMF on January 30, 2023. Under this, the IMF has released $2.31 billion in three installments. The organization has not released the fourth installment of the loan due to non-implementation of the conditions. The fourth and fifth installments are scheduled to be released together next June. However, the IMF has not yet reached an agreement with Bangladesh on the terms of the loan. Discussions are still ongoing.

Express your opinion.