The government wants IMF Resident Representative Eteri Kvintradze to stay in Bangladesh for at least one more year to facilitate disbursement of the rest of in installments of the Extended Credit Facility (ECF), official sources said.
The government decided to extend her tenure till January 2015 as her assignment here is scheduled to end on January 1 next.
Finance Minister AMA Muhith approved a proposal in this regard last month, said an official. The IMF has so far disbursed three out of the seven-tranche loan of US$1bn.
According to the extension proposal, Eteri has overall idea about the economic situation of the country and her positive actions contribute to relaxing the IMF’s strict conditions. She is now assisting the country’s financial reforms. The government has already increased her tenure in Bangladesh two times after her assuming office in Bangladesh in 2009.
On May 30, IMF released the third installment of $136.6 m for Bangladesh under the Extended Credit Facility arrangement. The Executive Board of IMF approved the three-year ECF arrangement for Bangladesh on April 11, 2012 for a total amount of about $956 m.
The tenure of the last IMF Resident Representative Jonathan Dunn extended for four times.
