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$1.08bn could be added to Bangladesh’s forex reserves

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News Desk :
Bangladesh may receive a loan of $1.08 billion from the International Monetary Fund (IMF) and the Asian Development Bank (ADB).

A senior official of the Ministry of Finance said that a loan proposal of $400 million for Bangladesh is expected to be placed at the ADB board meeting on December 12, 2023, reports UNB.

The proposal for approval of a $681 million loan, which is the second tranche of the IMF’s $4.7 billion loan, will be decided upon by the IMF board meeting that same day.

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If both loan proposals are approved next week, $1.08 billion could be added to Bangladesh’s forex reserves.

This would alleviate the foreign exchange shortage, which is impacting import bill payments and the dollars needed to pay for Bangladeshi nationals’ medical and educational expenses abroad.

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