Bangladesh Bank has received $115 million for the third installment of the International Monetary Fund (IMF) loan. This amount has already been added to the foreign exchange reserves of Bangladesh Bank. As a result, the country's foreign exchange reserves have increased to 22 billion dollars.
Bangladesh Bank spokesperson and executive director Majbaul Haque told the media that $115 million of the third installment of the IMF loan was added to Bangladesh Bank's reserves on Thursday. Besides, 900 million dollars have come from the sources of Korea, World Bank, IDB. However, if the reserve calculation method of Bangladesh Bank is adopted, this number will increase to 27.15 billion dollars.
Earlier on Monday (June 24), the IMF approved the third tranche concession under the $4.7 billion loan agreement for Bangladesh. Later on Thursday, the loan money came to the central bank. Before that, Bangladesh received 68 million 10 million dollars of the second installment of this loan last December.
In August 2021, the reserves crossed the highest mark of $48 billion in the country's history. However, in addition to the sale of dollars from the reserve to meet the import liabilities, it continues to decrease due to various reasons including the decrease in foreign investment, debt repayment pressure.
On the other hand, in July 2022, Bangladesh applied for a loan from the IMF. Later on January 30 last year, the IMF approved a loan of 4.7 billion dollars for Bangladesh under 38 conditions. The loan will be paid in seven installments till 2026. For the first installment of this, Bangladesh received 47.63 million dollars in February last year. Bangladesh has received three installments of IMF loans so far.
source:timenews