International Monetary Fund (IMF) agrees to lend $4.5 billion loan to Bangladesh which was affirmed by the Finance Minister AHM Mustafa Kamal.
The Finance Minister added that the first installments will be given in February 2023.
On Wednesday, 9 November, after finishing up the meeting with the International Monetary Fund (IMF) he said this to the news media.
The Finance Minister also added, “The way we wanted the loan, we are getting exactly the same way.” Within the next 3 months, all the discussions regarding the loan will be finished.
“The amount will be disbursed in seven installments till December 2026. The first installment, $447.78 million, of the loan will be cleared in February next year. The rest will be $659.18 million each.”
Out of the $4.5 billion loan, Bangladesh asks for $1.5 billion to $3 billion for Balance of Payments (BoP) and budget support. The remaining $1.5 billion was requested from the International Monetary Fund’s (IMF) new initiative, the Resilience and Sustainable Development Fund (Trust).
As Russia, Ukraine war began in February where Bangladesh’s economy recovered from the pandemic Covid-19 recession. The war disrupted the global supply of goods and led to inflation in various countries, including Bangladesh.
Bangladesh expects to receive more than $3 billion loans from the World Bank (WB), International Monetary Fund (IMF) and other bankers in the current fiscal year.
