Executive Director on International Monetary Fund board, Rakesh Mohan is due to arrive in Dhaka on March 29.
His six-day tour is aimed at convincing Bangladesh authorities about the IMF’s proposed new debt policy for the low-income countries.
Bangladesh may oppose the new debt limit policy under which the country will face difficulties in fulfilling the criteria set by IMF on concessional and non-concessional loans, according to the finance ministry. During the visit, Rakesh Mohan will meet Prime Minister Sheikh Hasina along with high government officials including Finance Minister AMA Muhith and Bangladesh Bank Governor Dr Atiur Rahman.
Apart from the present status of the three-year Extended Credit Facility, fresh IMF loans will also be discussed in the meets. IMF official will also talk about the future course of Bangladesh’s foreign exchange regime.
Rakesh, former deputy governor of the Reserve Bank of India, will stay in Dhaka till April 3. As per proposed reforms, IMF will put limit on concessional and non-concessional loans taken by the low-income countries.
If the non-concessional loans are debt sustainable however, the global lender will not bring them under its scrutiny.