IMF official anxious about loan defaults: Muhith

The finance minister meets IMF Deputy Managing Director Misuhiro Furusawa in Bali

Published: October 12, 2018 16:37:55 | Updated: November 04, 2018 21:35:07

Expressing satisfaction over the Bangladesh economy, Deputy Managing Director of International Monetary Fund Misuhiro Furusawa has said he is anxious about the prevalent loan defaults in the banking sector.

Finance Minister Abul Maal Abdul Muhith informed about the IMF official's remarks while talking to the reporters on the Indonesian island of Bali on Friday, reports

The finance minister held a meeting with the IMF deputy managing director before talking to the reporters.

“I told him that we are working on the issue (loan defaults) and planning to take effective measures during the present tenure of the government which the next government can implement,” Muhith said.

The reporters asked Muhith if he believes there will be unrest in Bangladesh with the election looming.

“I don’t think there will be any unrest in the country over the election. There has been a positive change in our politics. No disorder at the moment,” he replied.

“The election will take place without any disturbance and I believe the Hasina government will remain in power leading the country towards prosperity,” the minister added.

A team of 27 from Bangladesh led by Muhith is in Bali to attend the annual IMF-World Bank meetings.

Bangladesh Bank Governor Fazle Kabir, Alternate Executive Director of the World Bank in Washington Muhammad Musharraf Hossain Bhuiyan, Finance Secretary Abdur Rouf Talukder, Economic Relations Division Secretary Kazi Shofiqul Azam are part of the delegation.

Earlier in the day, Indonesian President Joko Widodo urged global central bankers and finance ministers on Friday to guard against growing risks facing the world's economy, as a heated Sino-US trade war roils both emerging and developed markets.

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