Tuesday, 27 February, 2024
Tuesday, 27 February, 2024

IMF, ADB loans to boost reserves in Dec: Bangladesh Bank

IMF will give $689 million, ADB $400 million and other sources $220 million
Diplomatic Correspondent, dhakadiplomat.com
  13 Dec 2023, 18:51

Bangladesh's foreign exchange reserves will increase in December as the country will receive $1.31 billion loans from various sources, including $689 million of the second tranche of the International Monetary Fund (IMF) loan, a top Bangladesh Bank official said today.

The Washington-based lender yesterday approved the second tranche, which is a part of the $4.7 billion IMF loan.

The amount will be added to the forex reserves by December 15, Bangladesh Bank Executive Director and Spokesperson Md Mezbaul Haque said at a press briefing at the central bank headquarters in Dhaka today.

Besides the IMF loans, Bangladesh is going to receive $400 million from the Asian Development Bank next week, Haque said.

Within December this year, another $90 million will come from South Korea and an additional $130 million from other sources, he said.

As on December 6 this year, Bangladesh's forex reserves stood at $19.13 billion, as per the IMF manual.

 

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