Dhaka: Bangladesh has fulfilled most of the suggestions set by the International Monetary Fund (IMF) for releasing the fourth tranche of the US$4.7 billion loan agreement, said Bangladesh Bank (BB) Spokesperson and Executive Director Husne Ara Shikha. Referring to the observation of the IMF visiting team, she stated that Bangladesh's Net International Reserves (NIR) exceed the IMF's recommendations, and the country has maintained stability in the exchange rate. According to Bangladesh Sangbad Sangstha, the third review mission of the IMF, led by mission Chief Chris Papadakis, arrived in the capital to assess the progress in meeting the suggestions. The mission met with BB Governor Dr. Ahsan H Mansur at the central bank headquarters, with senior officials of the central bank in attendance. Following the meeting, Husne Ara Shikha noted that the IMF team urged the central bank to increase efforts for the modernization of monetary policy and to tackle inflation. She highlighted that the central bank has already initiated various measures, including issuing a master circular on loan classification and provisioning as per IMF suggestions. 'During the meeting, the IMF team informed us that we have achieved most of the issues as per their suggestions. But we have to provide more efforts for reducing inflation,' she elaborated. As part of the initiatives, BB has issued a master circular on loan classification and provisioning to enhance the risk management capabilities of banks and strengthen the transparency of financial reporting. Husne Ara Shikha also mentioned that Bangladesh is set to receive funding from the IMF, Asian Development Bank (ADB), the World Bank, and other agencies within this month. Prior to the meeting with Bangladesh Bank, the IMF team met with finance adviser Dr. Salehuddin Ahmed at his secretariat office. Afterward, Salehuddin commented on the developments of the ongoing $4.7 billion loan package, expressing expectations to receive $1.1 billion in this tranche. The loan agreement, approved by th e IMF in January 2023, involves a $4.7 billion package to be disbursed in seven installments, each subject to a review by the IMF delegation before release.
