Bangladesh’s foreign exchange reserves are projected to rise modestly to $23.6 billion in the next fiscal year from $21.7 billion in the current year, as the International Monetary Fund (IMF) expanded its total support package amid ongoing efforts to stabilise the country’s macroeconomy.
The proposal to release the third and fourth tranches of the International Monetary Fund’s $4.7 billion loan is set to be presented to the multilateral lender’s board on June 23 after the government fulfilled all prior conditions.
The government has reached a staff-level agreement with the International Monetary Fund for the fourth and fifth tranche of the $4.7 billion loan programme, putting to bed months of uncertainty over their disbursement.
Led by Finance Adviser Salehuddin Ahmed, the Bangladesh delegation held a series of meetings with IMF representatives in Washington.
The fourth tranche of the instalment was deferred due to disagreements and now talks are going on to release two tranches at once.
IMF presents target, revises GDP growth to 4%
The team will begin its two-week mission from April 6
The International Monetary Fund's move to disburse the fourth and fifth tranches of a $4.7 billion loan together was a mutual decision, the finance ministry said in a press release yesterday.
The International Monetary Fund is set to tighten the noose on the Bangladesh government over its dismal revenue mobilisation...
The minimum net international reserves (NIR) will also remain below the threshold when an IMF mission visits Dhaka next week to review the progress of the programme before releasing around $681 million in the third tranche in May.
Bangladesh is likely to receive the third tranche of the International Monetary Fund’s $4.7 billion loan as the country has met almost all conditions, said Finance Minister Abul Hassan Mahmood Ali yesterday.
Behind the Bangladesh Bank's announcement of this year’s monetary policy was a certain pressure applied by the International Monetary Fund (IMF).
Bangladesh has a low risk of external and overall debt distress despite higher external borrowing in recent terms, said the International Monetary Fund.
There would not be any further negotiations on the $4.5 billion loan programme during International Monetary Fund’s deputy managing director Antoinette Monsio Sayeh’s forthcoming visit to Bangladesh.
The government will not accept IMF loan with “hard conditions”, Road Transport and Bridges Minister Obaidul Quader said today.
Our current economic situation is one in which countries usually look to the IMF for balance of payment support.
