The government is in discussions with the International Monetary Fund (IMF) on a new loan programme, Finance Minister Amir Khasru Mahmud Chowdhury said, adding that the current administration withdrew from the previous IMF programme because some of its conditions were against the public interest.
Speaking during the second session of the National Parliament on Monday afternoon, the finance minister said the government had not returned empty-handed from its engagement with the IMF. Rather, he said, the previous "fascist government" had agreed to loan conditions that were not in the people`s interest, prompting the current administration to abandon that programme and begin negotiations on a new one.
Highlighting the country`s debt situation, he said the government`s total outstanding debt stood at Tk 21.46 trillion at the end of the 2024-25 fiscal year, equivalent to 38.61% of GDP. Of the total, domestic debt amounted to Tk 11.95 trillion, while foreign debt stood at Tk 9.49 trillion.
The finance minister said servicing inherited debt has placed considerable pressure on the economy.
On illicit financial flows, he said no one involved in looting public wealth would be spared and that depositors` savings would be protected. So far, assets worth around Tk 723.43 billion have been frozen in Bangladesh and abroad in connection with 11 cases. He added that Bangladesh has sent 23 mutual legal assistance requests to authorities in 13 countries to recover laundered money.
He also said the government is implementing reforms to revive the stock market, stressing that qualified and experienced professionals—not political appointees—have been entrusted with leading the process.
The finance minister further revealed that VEON, the parent company of mobile operator Banglalink, has pledged to invest an additional $1 billion in Bangladesh.
He said the government plans to reduce its reliance on bank borrowing in the future to ensure that private sector credit is not crowded out.
To strengthen the energy sector, the government is undertaking several initiatives, including building additional LNG terminals and establishing a second oil refinery. He urged the public to remain patient as these projects move forward.
On development projects, the minister said the government would give top priority to completing every project on schedule. A digital dashboard will be used to monitor the progress of each development project daily, a move he said would help reduce irregularities and corruption.
The government is in discussions with the International Monetary Fund (IMF) on a new loan programme, Finance Minister Amir Khasru Mahmud Chowdhury said, adding that the current administration withdrew from the previous IMF programme because some of its conditions were against the public interest.
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