Bangladesh expects another IMF installment early next month

DHAKA, Aug. 24 (NsNewsWire) — The International Monetary Fund (IMF) would release another installment of loan of 1 billion U.S. dollars early next month, said Bangladesh Finance Minister Abul Maal Abdul Muhith on Sunday.
“I believe another installment of IMF’s loan will be released by the end of this month or early next month as all the conditions will be fulfilled,” Muhith said.
The minister made the remarks after a meeting with visiting IMF Executive Director Dr Rakesh Mohan at his secretariat office.
The conditions are amendment to VAT act and international audit to Bangladesh Petroleum Corporation (BPC).
Muhih said the two conditions are almost met, as there is no legal bar on international auditing to BPC.
Early this month, the IMF extended the tenure of the ECF ( Extended Credit Facility) program by three months to give the government enough time to meet the unrealized conditions for the release of the last two installments.  Enditem