Bangladesh will no longer take IMF loans under imposed conditions: Economic Adviser

 PNN News Desk | Dhaka:
Bangladesh will no longer accept loans from the International Monetary Fund (IMF) under imposed or unfavorable conditions, Economic Adviser Dr. Salehuddin Ahmed has announced. He stated that the government will only enter into loan agreements with the IMF under friendly terms, and if the IMF adds new conditions that are not beneficial for Bangladesh, the government will not accept loans under those terms.

Following the economic shocks of the post-COVID period, Bangladesh signed a USD 4.7 billion loan agreement with the IMF in 2022, which included several conditions. Later, in 2024, the interim government signed another USD 800 million loan deal, leading to an increase in the number of conditions. However, current economic indicators—especially expatriate income and remittance inflows—show positive signs of Bangladesh’s improving economic capacity.

Speaking to reporters on the second day of the World Bank and IMF Annual Meeting, Dr. Salehuddin Ahmed said,

“If the IMF introduces new conditions that are not friendly to us, we have no plan to take loans under those terms.”

Meanwhile, Finance Secretary Dr. Khairuzzaman Majumder said that discussions have been held with MIGA (Multilateral Investment Guarantee Agency), a World Bank affiliate, to reduce pressure on the Export Development Fund (EDF) and the country’s foreign reserves. MIGA will provide USD 500 million in financial assistance to support exporters.

Government representatives also clarified that the recent increase in customs duties at Chattogram Port was made to improve service quality, not to benefit any particular group. The government expects that as export earnings and remittance inflows continue to rise, dependence on donor agency loans will decrease significantly.

In this context, the Bangladesh government’s main goal is to achieve financial self-reliance and reduce dependency on international aid, thereby strengthening its own economic resilience.