Bangladesh took IMF loan to create ‘breathing space’: Hasina

The prime minister made the remarks when an IMF delegation met her on Saturday, according to the foreign minister

Prime Minister Sheikh Hasina said Bangladesh has taken $4.7 billion in loans from the International Monetary Fund to create a "breathing space".

"We have taken the loan from the IMF as breathing space," Foreign Minister AK Abdul Momen said, citing Hasina, during a media briefing on Saturday.

The prime minister made the remarks when an IMF delegation led by Managing Director Kristalina Georgieva met her at the Ritz-Carlton hotel on Saturday, according to the state-run news agency BSS.

"Bangladesh is a role model in the world in terms of its overall development," Momen said, quoting the IMF managing director.

Georgieva said Bangladesh has achieved remarkable progress due to establishing massive infrastructure development, well connectivity and maintaining law and order, BSS reported.

Georgieva also hailed stability in the macro economy even in the Covid-19 pandemic.

Hasina apprised the IMF chief of her government initiatives to ensure the overall development of her country.

"The development of the country has not been made in a day, rather it's a result of long-time planning,” she said.

Hasina said she prepared the plan on how she wanted to develop Bangladesh while she was in jail after the changeover and started working on the plan after assuming power for the second time in 2009.

The prime minister praised the IMF’s role in the journey of Bangladesh's development and wished for the continuation of support in future. The global lender assured her of continuing to provide support in future, BSS reported.

During the briefing, Bangladesh Bank Governor Abdur Rouf Talukder said the IMF has always stood by Bangladesh in the last 14 years to maintain macroeconomic stability and gave required advice, from which the country never derailed.

Talukder said Bangladesh got the loan just after two weeks of negotiation, though many countries cannot get such loans after negotiating for years.