Dhaka, May 25 -- The Bangladesh government has decided to formally go back on its existing loan arrangement with the International Monetary Fund (IMF), reached during the time of the former Awami League administration, deciding to head for negotiations for seeking a fresh $5 billion financing package under revised conditions, marking a major shift in the country's approach to economic policy.
The decision was confirmed following a high-level virtual meeting on May 21 between a Bangladeshi delegation led by Finance and Planning Minister Amir Khosru Mahmud Chowdhury and an IMF team headed by Deputy Managing Director Nigel Clarke.
According to a statement issued by Bangladesh's finance ministry on May 25, the talks focused on macroeconomic s...