The International Monetary Fund (IMF) had given several conditions to Bangladesh before granting the loan. Bangladesh Bank Governor Abdur Rauf Talukder has expressed his commitment to implement other conditions except the foreign currency reserve calculation method under BPM6 imposed by the donor organization by next June.
In the meeting held by the central bank on Tuesday (April 25), the concerned officials of Bangladesh Bank answered various questions related to the reform of the members of the IMF delegation. The concerned officials in the meeting gave this information.
According to the sources, among the reform proposals of the IMF, lifting of the interest rate ceiling, determination of single rate of dollar, role of monetary policy in controlling inflation, economic growth, reduction of subsidy on energy, proper utilization of credit, reduction of defaults, change in inspection method of banks, risk based assessment in inspection of banks and financial institutions. Governor Rauf Talukdar has promised to implement the procedure, bring transparency in loan distribution and abuse of power of the board of these institutions and reform the Bank Company Act as promised. And the International Enumeration System Reserve Enumeration (NIR) is under process and may take additional time to implement.