Bangladesh: IMF loan not solution to current crisis, economists

DHAKA, 12 November 2022, (TON): Bangladesh has secured a loan deal worth $4.5 billion from the International Monetary Fund but according to economists it alone cannot help overcome the current economic crises.

Stopping capital flight, containing revenue leakage, shunning unnecessary development projects and closing down costly rental power plants are necessary to tackle the current pressure on macro-economy, economists said while talking to New Age, one day after the preliminary loan agreement between the two sides.

The economists, however, stated that the IMF loan to be disbursed in seven tranches over the period of next three years would give some assistance to the country’s balance of payments now under pressure due to shortage of foreign currencies, mainly the US dollar.

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