IMF to Provide $4.5 bn Loan for Bangladesh to Combat Economic Crisis

IMF to Provide $4.5 bn Loan for Bangladesh to Combat Economic Crisis

• The International Monetary Fund (IMF) provisionally agreed a $4.5-billion support programme for Bangladesh, with the country’s finance minister saying the deal would help prevent economic instability escalating into a crisis.
• Bangladesh’s $416-billion economy has been one of the world’s fastest growing economy for years. But rising energy and food prices, sparked by Russia’s invasion of Ukraine, along with shrinking foreign exchange reserves, have swelled its import bill and current account deficit.
• It became the third South Asian nation to secure a “staff-level agreement” with the IMF for loans this year, after Pakistan and Sri Lanka.

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Published date : 11 Nov 2022 06:34PM