After Pakistan, Bangladesh also reached the IMF for Loan of $762 Million
After Pakistan, Bangladesh has also sought financial help from the IMF. Bangladesh has asked for a loan of $ 762 million, which will improve its economic situation. The IMF has already lent Bangladesh $4.7 billion, and now the amount could reach $4.1 billion.
After Operation Sindoor, there is an atmosphere of tension between India and Pakistan. Pakistan had extended its hand for financial help in front of the IMF. Now after Pakistan, Bangladesh has also joined this line. The IMF recently shared information that Bangladesh is seeking a loan of $ 762 million (about Rs 6.360 crore) from the International Monetary Fund.
$4.7 billion in debt in 2023
The IMF reported that in the current situation, the economic situation of Bangladesh is not good, Bangladesh is seeking a loan of $ 762 million from the International Monetary Fund. It is known that Bangladesh also took a loan from the IMF for $ 4.7 billion in the year 2023. Bangladesh has so far received a loan of $ 2.3 billion in three installments. In such a situation, if Bangladesh gets a loan from the IMF, then it will reach $ 4.1 billion (about Rs 35,000 crore). Bangladesh Bank Governor Ahsan H Mansur on Wednesday also announced the adoption of a managed floating exchange rate with immediate effect to comply with the IMF's conditions.
A Staff Level Agreement
For information, let us know that there has been a staff level agreement between the IMF and Bangladesh. The deal is under three schemes – ECF, EFF and RSF. However, it is yet to get the approval of the IMF's Executive Board. If approved, Bangladesh is expected to receive the next tranche of $1.3 billion. However, for this, Bangladesh will also have to accept the conditions of the IMF such as taxation, reforms in the banking sector, strengthening the central bank of Bangladesh and making the foreign exchange rate completely market-based.