The $2.9 billion loan secured early last year required Colombo to sharply raise taxes, remove generous energy subsidies and agree to restructure more than 50 loss-making state enterprises.
The swift agreement, which comes just over two months after the last one, will provide Ukraine with a large injection of funds amid Russia's ongoing assault on the country, which entered its 1000th day on Tuesday.
China's leaders are targeting annual growth of five percent this year -- a goal challenged by weak consumption and a prolonged and debilitating debt crisis in the colossal property sector
After the World Bank, the International Monetary Fund has now brought down Bangladesh’s growth forecast for this year as political uncertainty, industrial unrest and floods weigh heavily on economic activities.
The International Monetary Fund and World Bank annual meetings are scheduled to draw more than 10,000 people from finance ministries, central banks and civil society groups to discuss efforts to boost patchy global growth, deal with debt distress and finance the green energy transition
The loan disbursal is the latest tranche of funding the International Monetary Fund has released to Ukraine as part of an ongoing 4-year, $15.5 billion program approved last March.
The government is expecting at least $5.65 billion in budget support this fiscal year from the World Bank, the International Monetary Fund (IMF), and the Asian Development Bank (ADB) to expedite reforms.
The meetings will take place in between October 21 and October 26
Released a week before the IMF and World Bank hold annual meetings in Washington, the Fiscal Monitor said there are good reasons to believe future debt levels could be well higher than currently projected, including a desire to spend more in the US, the world's largest economy.
Three issues would be dictating the upcoming fiscal year’s budget, the last of the Awami League government’s present five-year term: the International Monetary Fund’s conditions, the persistently high inflation and next year’s national election.
Bangladesh’s preparation for LDC graduation would start in earnest with the International Monetary Fund’s 42-month loan programme, where one of the objectives is to overhaul the monetary and exchange rate policies to meet the needs of an open economy.
The International Monetary Fund would be watching the Bangladesh economy like a hawk, stipulating an extensive list of data reporting regularly as part of the conditions agreed upon for the $4.7 billion loan programme.
The key to the ACC’s effectiveness in delivering its mandate is independence, especially when setting the example that, in handling allegations of corruption, it is guided by equality before law, and not by the status or identity of the individual depending on their political, governmental, or other connections.
Kristalina Georgieva describes IMF's outlook for 2023 as "less bad, not good"
Bangladesh has averted a potential major crisis by reaching out to the International Monetary Fund (IMF) in a timely manner, said Kaushik Basu, a former chief economist of the World Bank.
Bangladesh has a low risk of external and overall debt distress despite higher external borrowing in recent terms, said the International Monetary Fund.
The International Monetary Fund has identified the problems in the banking system, including the high volume of defaulted loans, as one of the three domestic risks that derail the economy in the short- to medium-term.
The International Monetary Fund (IMF) has disbursed $476.27 million to Bangladesh as the first instalments of $4.7 billion loan it approved early this week.
As the US dollar shortage persists, businesses in Bangladesh are increasingly finding it difficult to open letters of credit (LCs) since banks can’t supply the adequate American greenback needed to finance imports.
