The interest rate will move to a fully market-based system "very shortly", Bangladesh Bank Governor Abdur Rouf Talukder has signalled – apparently in line with the IMF prescription over a $4.7 billion loan package. "I think we are very close to a market-based interest rate. We are expecting that very shortly we will be moving to a fully market-based interest rate," he said at
The IMF mission met with the deputy governors, policy advisor, executive directors and directors in different meetings at the central bank headquarters.
The merger idea was floated after the IMF suggested that the central bank prepare a road map to reduce default loans as part of the conditions for its $4.7 billion loan package.
Bangladesh Bank has restricted journalists from entering its office.
The move comes at a time when the financial sector is reeling under various problems – customers are not getting their money back from most financial institutions, a few banks are operating on special loans from the central