Another IMFinstallment in early September

Says Muhith

Finance Minister Abul Maal Abdul Muhith yesterday said another installment of IMF’s US$ 1 billion loan would be released on early September, reports BSS.
“I believe another installment of IMF’s loan will be released by the end of this month or early September, as all the conditions will be fulfilled,” he added.
The minister came up with the announcement after a meeting with the visiting IMF Executive Director Rakesh Mohan at his secretariat office.
The conditions are amendment to VAT act and international audit to Bangladesh Petroleum Corporation (BPC).
The finance minister said the two conditions are almost on the verge of fulfillment, as there is no legal bar on international auditing to BPC.
Early this month, the IMF extended the tenure of the ECF (Extended Credit Facility) programme by three months to give the government sufficient time to meet the unrealized conditions for release of the last two installments amounting $280 million.

Another IMFinstallment in early September

Says Muhith

Finance Minister Abul Maal Abdul Muhith yesterday said another installment of IMFs US$ 1 billion loan would be released on early September, reports BSS. I believe another installment of IMFs loan will be released by the end of this month or early September, as all the conditions will be fulfilled, he added. The minister came up with the announcement after a meeting with the visiting IMF Executive Director Rakesh Mohan at his secretariat office. The conditions are amendment to VAT act and international audit to Bangladesh Petroleum Corporation (BPC). The finance minister said the two conditions are almost on the verge of fulfillment, as there is no legal bar on international auditing to BPC. Early this month, the IMF extended the tenure of the ECF (Extended Credit Facility) programme by three months to give the government sufficient time to meet the unrealized conditions for release of the last two installments amounting $280 million.