Bangladesh to get $3.5b by June from IMF, WB, ADB
Bangladesh is set to secure $3.5 billion in funding from international lenders—including the International Monetary Fund (IMF), World Bank, and Asian Development Bank—by the end of June, according to the governor of Bangladesh Bank.
Speaking at a press briefing held at the central bank's headquarters on May 14, the governor also announced the adoption of a market-based exchange rate, a key condition tied to IMF support.
He indicated that the new exchange rate is expected to remain close to current levels due to adequate dollar supply in the banking sector. Commercial banks have already been briefed on the implementation of the market-driven rate during today's discussions.
To maintain exchange rate stability, especially in the face of significant foreign transactions, the central bank will step in as necessary. While there will be a range or band for the exchange rate, specific limits will not be made public.
The announcement follows a breakthrough in negotiations with the IMF on May 13, when Bangladesh Bank finalized an agreement to enhance exchange rate flexibility.
As part of this agreement, the IMF is scheduled to disburse $1.3 billion in June—part of the $4.7 billion loan package approved in 2023. To date, Bangladesh has received $2.3 billion in three installments from the IMF.
.png "Advertisement")
