Prime Minister Sheikh Hasina recently met with the International Monetary Fund’s (IMF) Managing Director, Kristalina Georgieva, during her visit to the United States. The meeting took place at The Ritz-Carlton hotel in Washington and came on the back of Bangladesh securing a $4.7 billion loan from the IMF as it looks to navigate a path to economic recovery following the Covid pandemic.
Loan to provide “breathing space” as Bangladesh looks to progress
Prime Minister Hasina explained to the IMF delegation that Bangladesh had taken the IMF loan as a “breathing space”, while expressing her desire to continue receiving support from the global lender in the future. The premier said, “Bangladesh has taken this IMF loan as a breathing space. We want to continue to receive support from the IMF in the future.” The foreign minister of Bangladesh, Dr AK Abdul Momen, quoted the IMF managing director as highly praising the country’s progress across various sectors under Hasina’s dynamic leadership in a news briefing.
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Georgieva described Bangladesh as a “role model in the world” for its overall development and recognised that leaders like Prime Minister Hasina are necessary to achieve prosperity in the face of challenges.
She said, “Bangladesh is a role model in the world for its overall development. Leaders like Prime Minister Hasina are necessary to achieve prosperity in the face of challenges.”
She also commended the country for maintaining stability in its macro-economy despite the pandemic.
PM Hasina lauds IMF support in the development journey
Prime Minister Hasina apprised the IMF chief of her government’s initiatives to ensure the country’s overall development and spoke about her long-term planning that began while she was in jail, following the changeover of power, before being implemented upon her return to office in 2009.
“The development of the country has not been made in a day rather it’s a result of long-time planning,” she said.
She also highlighted the measures Bangladesh is taking to fight the adverse impact of climate change and to empower women. The prime minister hailed the role of the IMF in the country’s journey of development and expressed her wish to see continued support in the future.
Bangladesh’s economic stability praised
The Bangladesh Bank Governor, Abdur Rouf Talukder, also expressed his gratitude to the IMF, highlighting that the organisation had stood by Bangladesh for the last 14 years to maintain stability in its macro-economy and provide advice. Talukder noted that Bangladesh had secured its latest IMF loan of $4.7 billion in just two weeks of negotiations, which he said was an impressive feat considering that many countries could not secure loans even after years of negotiation. “IMF will continue such kind of cooperation in future,” the Governor later said quoting the IMF chief.
PM Hasina’s international itinerary
Aside from meeting with the IMF chief, Prime Minister Hasina also attended a function in Washington DC on April 28 to celebrate the 50th anniversary of Bangladesh’s partnership with the World Bank (WB). She is scheduled to attend the coronation of Charles III and his wife Camilla as King and Queen of the United Kingdom and the Commonwealth of Nations in London on May 4 before returning to Bangladesh. Prior to her visit to the US, she visited Japan, where she held meetings with the country’s leaders and signed agreements in various areas, including agriculture, metro rail, and defence cooperation. The premier is scheduled to return to Dhaka on May 9.
In conclusion, Bangladesh’s Prime Minister Sheikh Hasina’s recent meeting with the IMF’s Managing Director Kristalina Georgieva is a sign of the country’s desire to chart a path to economic recovery following the pandemic and worldwide economic turmoil. With a $4.7 billion loan secured from the IMF, the prime minister expressed her gratitude to the organisation for its support and praised its role in the country’s development journey.
