Bangladesh’s foreign exchange reserves now $23.57 billion as per IMF formula

Dhakadiplomat.com desk

13 Jul 2023, 20:54

Bangladesh Bank (BB) has finally accepted the formula prescribed by the International Monetary Fund (IMF) in calculating foreign exchange reserves that stood at $23.57 billion on Thursday.

However, according to the Bangladesh Bank's calculations on Wednesday the reserve was $29.97 billion.

One of the conditions for the IMF's $4.7 billion loan to Bangladesh was to release the reserve account by June as per a model called BPM-6.

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