DUBAI “(Reuters) – Bangladesh Prime Minister Sheikh Hasina stated on Wednesday that her country is confident in its ability to satisfy its commitments to the International Monetary Fund.
“The IMF only assists countries that can repay their loans.” Bangladesh is in a position to say, “Yes, we took the loan for as long as we need it, and yes, I am very confident that we will be able to use the loan for our progress while also paying it back,” Hasina said at the Qatar Economic Forum, organized by Bloomberg.
The IMF authorised $4.7 billion in loans to Bangladesh for prompt release in January, seen as a boost for Sheikh Hasina ahead of a general election early next year.
In the midst of a deteriorating economic crisis, Bangladesh has seen its current account deficit balloon, the taka currency depreciate, and its foreign exchange reserves dwindle.
Sheikh Hasina also stated that Bangladesh would purchase oil from Russia if the price was reasonable.