Finance adviser Saehuddin Ahmed on Tuesday said that he was expecting $1.1 billion from the International Monetary Fund in the next two months while expecting more funds against the demand for around $6 billion to speed up reforms.聽聽聽
The government sought $6 billion to multilateral lenders for the current FY25 in connection with the reform programme to be carried out by the interim government, he said.
More funds are needed to carry out reform and maintain trade balance, Salehuddin said while talking to reporters after a meeting with the visiting IMF mission at his secretariat office.
The expected $1.1 billion from the IMF will be the third tranche under the ongoing $4.7 billion loan programme taken by the Awami League regime before it was ousted by a mass uprising on August 5.
The IMF has already disbursed around $2.3 billion in two tranches including $1.1 billion as the second tranche in June, 2024, assisting the country鈥檚 balance of payment that has been facing stresses since April 2022.
While the visiting IMF team will give focuses mainly on revenue generation, fiscal deficit and defaulted loan in the banking sector, the local side will give emphasize on聽stabilisation of the economy in the current loan negotiation in the next fortnight.
鈥榃e have argued that stability is restoring,鈥� said the finance adviser, adding that the country needed more foreign direct investment and foreign loans.
Calling the recent stability in foreign exchange market, the inflow of remittance and the modest growth in export as the positive signs of the economy, the finance adviser said the overall import was a bit low and the capital machinery import was less.
The finance adviser told the IMF mission that the decisions taken by the interim government were expected to be continued by the next new government.
Answering a question regarding the extra fund sought from the IMF, he said the IMF mission would visit in the capital in March to review the demand.
