Home ›› Economy

No obstacles against next IMF loan tranche

BB governor says Bangladesh already fulfilled 9 of 10 IMF conditions
Niaz Mahmud from Washington DC
16 Apr 2024 17:26:13 | Update: 16 Apr 2024 22:35:25
No obstacles against next IMF loan tranche
Pedestrians walk past the International Monetary Fund (IMF) headquarters on April 12, 2024, in Washington DC — AFP Photo

Central bank Governor Abdur Rouf Talukder said there is no obstacle to getting the next IMF loan tranche as Bangladesh has fulfilled 9 out of the 10 conditions given by the international financial agency.

An IMF delegation is visiting Bangladesh next week, Talukder told the media after the first day of the World Bank and IMF spring meeting, held in Washington DC, USA on Monday.

A 10-member delegation led by Finance Minister Abul Hassan Mahmood Ali currently is in Washington DC to attend the programme, scheduled from April 15 -20.

Bangladesh had reached out to the IMF for support to tackle the global economic headwinds. At that time, the organisation provided 10-point conditions for the loan.

The governor said “Bangladesh has fulfilled all conditions except foreign exchange reserves. Besides, we have held a meeting with the governor of Mauritius to facilitate the sending of remittances.”

BSI Certification

Meanwhile, on Monday, the IMF announced that it has achieved the international standard for event sustainability – ISO 20121 – for the spring meetings held at its headquarters in Washington DC.

This certification by the British Standards Institution (BSI) recognises the IMF’s commitment to managing the environmental, social, and economic impact of its operations during the meetings.

As climate change remains a major threat to long-term growth and prosperity, the IMF has a role to play in helping its members by providing policy advice related to mitigation, adaptation, and transition to a low carbon economy.

The IMF also has a role to play in taking steps to advance its own operational sustainability efforts.

IMF Managing Director Kristalina Georgieva said, “Sustainability is a priority for the fund, and I am immensely proud that we have achieved the ISO 20121 standard for our spring and annual meetings, an important step in the right direction.

“The standard recognises our many efforts – from offsetting the carbon emissions associated with participants’ travel to Washington, to eliminating single-use plastics from our cafeterias and catering, to establishing an environmental sustainability council – each action highlights that the fund is making strides to be more sustainable in our own operations.”

To achieve this certification, the IMF has been working with the team from Crowberry Consulting since 2023 to conduct gap analysis, internal auditor training, and sustainable event system implementation.

The collaboration ensures that all functional areas are in scope and meaningful sustainable event objectives and targets are embedded.

These include the continuous offsetting of carbon generated by participants’ travels for the spring and annual meetings, as well as considerations for materials, food waste, accessibility, and recycling.