Govt discusses additional fuel import funds with IMF: Finance Minister

Discussions have been held with the International Monetary Fund (IMF) regarding the additional funds needed for fuel imports, Finance Minister Amir Khosru Mahmud Chowdhury has said. Detailed talks will take place at the institution's Spring Meeting in Washington.

The finance minister shared this information while speaking to journalists after a meeting with IMF Asia and Pacific Department Director Krishna Srinivasan at the Secretariat on Tuesday, March 24.

Regarding the release of the next tranche of $1.3 billion from the IMF, the minister expressed hope that final discussions will be held at the organisation's board meeting in April, with the loan instalment likely to be received in July.

The minister said discussions were held on the release of IMF loans. The review for the $1.3 billion instalment will take place in July. "We will be preparing the budget in the meantime. There is a Spring Meeting in Washington in April, where this matter will be discussed," he added.

Amir Khosru said discussions have also been held with the IMF on the additional funds required for fuel imports. Detailed talks will follow at the Spring Meeting in Washington.

He said, "We have had a programme with the IMF for several years. The programme will be revisited, which is not a problem. Discussions are ongoing regarding the IMF's requirements."

He noted that not all IMF conditions can be met immediately. "We must consider how much can be implemented now and gradually implement those that are not feasible given Bangladesh's current economic context. Given where the economy stands, we must do everything in our own way," he said.

Krishna Srinivasan, Director of the Asia and Pacific Department, told journalists that discussions were held with the Prime Minister and Finance Minister on various issues, including the loan programme, and further talks will follow. The ongoing loan programme with Bangladesh will be reviewed.

He added that uncertainty has emerged in the economies of all countries worldwide due to the ongoing war involving Iran, the United States and Israel, and Bangladesh faces similar uncertainty.

Urging the public to be sympathetic and restrained during the fuel crisis arising from the Iran war, the minister said, "The current government took office just a month ago. Since then, Ramadan has passed, and the war has begun. Despite the fuel crisis due to the war, there has been no disruption to transport in the country. Everyone was able to go home, fares did not increase. There was no unrest in the garment sector. No transport was shut down due to lack of oil."

The finance minister said the government cannot handle this crisis alone; the people must be sympathetic and exercise restraint.