Prime Minister Sheikh Hasina has said Bangladesh has taken out a loan from the International Monetary Fund (IMF) to get some "breathing space" and that the global lender has assured of continuing to provide such support in future.
"We have taken out the loan from the IMF as breathing space," Foreign Minister Dr AK Abdul Momen quoted the prime minister as saying at a press briefing on Sunday.
The prime minister made the remark when an IMF delegation led by its managing director, Kristalina Georgieva, paid a courtesy call on her at the meeting room of The Ritz-Carlton.
The IMF recently approved a loan of $4.7 billion for Bangladesh.
The foreign minister said that the IMF chief highly praised the unprecedented advancement of Bangladesh in various sectors under the leadership of Sheikh Hasina, which made Bangladesh's economy stable after the Covid-19 pandemic.
Bangladesh is a role model in the world in terms of its overall development, Momen said quoting the IMF managing director.
The IMF chief said leaders like Bangladesh's prime minister are necessary to go ahead towards prosperity confronting all hurdles.
She said Bangladesh has made remarkable progress due to establishing massive infrastructure development, good connectivity and maintaining law and order.
Georgieva also hailed stability in the country's macro economy even during the Covid-19 pandemic.
Sheikh Hasina apprised the IMF chief of her government's initiatives to make sure the overall development of the country.
"The development of the country has not been made in a day, rather it is a result of longtime planning," she said.
Sheikh 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 a second time in 2009.
She apprised the IMF boss of Bangladesh's measures to fight the adverse impacts of climate change and ensure women's empowerment.
The prime minister hailed the role of the IMF in the journey of Bangladesh's development and wished for the continuation of its support in future.
During the briefing, Bangladesh Bank Governor Abdur Rouf Talukder said the IMF has stood by Bangladesh in the last 14 years to maintain stability in the macro economy and also gave required advice as the country never derailed from it.
Bangladesh is currently engaged with a programme of $4.7 billion with the IMF, which Bangladesh got after only two weeks of negotiation despite the fact many countries cannot avail of the loan after negotiating for years, he said.
"The IMF will continue such kind of cooperation in future," Rouf said quoting the IMF chief.
Finance Division Senior Secretary Fatima Yasmin and Economic Relations Division Secretary Sharifa Khan were present during the briefing.