B MirrorDesk: Bangladesh is set to receive an additional $1.3 billion loan from the IMF. After months of negotiations regarding the flexibility of the taka exchange rate, key discussions led by Bangladesh Bank Governor Dr. Ahsan H. Mansur have resolved the issues. Consequently, the IMF will disburse $1.3 billion in June as part of a $4.7 billion loan package for the current fiscal year. A senior Bangladesh Bank official confirmed on May 13 that the IMF has accepted the ‘crawling peg’ exchange rate method, despite initial reservations.
This amount will be the third installment of the loan package. A press conference is scheduled at the Bangladesh Bank headquarters on May 14 to formally announce the final agreement with the IMF regarding the loan release.
It is important to note that the IMF approved a three-year loan program for Bangladesh in January 2023, with two tranches already disbursed, bringing the total released through this upcoming third tranche to approximately $3.3 billion.
