Bangladesh should shun foreign-funded projects without economic returns: IMF
The International Monetary Fund (IMF) has suggested that Bangladesh should be more cautious in taking up projects with foreign loans that will not bring economic benefits.
The visiting IMF delegation made the suggestion at a meeting with officials at the Economic Relations Division (ERD) on Wednesday considering the volatility in the global economy.
ERD officials said the global lender has appreciated Bangladesh's external debt management. Currently, the country's outstanding foreign debt is $50 billion and there is another nearly $50 billion in the pipeline.
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The Washington-based lender said there is nothing to fear in the prevailing global situation. The current debt liability of 14.33% of GDP is in a comfortable place, but it may change owing to the global situation, added the officials.
The IMF delegation has asked Bangladesh to be careful in this regard, according to the officials.
Senior officials including ERD Secretary Sharifa Khan were present in the meeting while Rahul Anand, division chief of the IMF's Asia and Pacific Department, led the six-member visiting delegation.
Starting the tour to Bangladesh on Sunday, the delegation met separately with the Bangladesh Bank, the Finance Division and the National Board of Revenue.
