The International Monetary Fund (IMF) has confirmed it will disburse $1.3 billion to Bangladesh in June, offering a significant boost to the country's economy. The funds are part of a $4.7 billion loan program approved for the current fiscal year.
The decision comes after a series of successful negotiations between the IMF and Bangladesh Bank, led by Governor Ahsan H Mansur. A senior official from the central bank confirmed the development, noting that despite initial reservations, the IMF has accepted Bangladesh Bank's adoption of the "crawling peg" exchange rate system.
To formally announce the agreement, Bangladesh Bank will hold a press conference on Wednesday, May 14, at its headquarters. Governor Mansur, currently in Dubai, is expected to join the event virtually.
Economic analysts say the disbursement will help stabilise Bangladesh's foreign currency reserves and enhance investor confidence, as well as strengthen the country's standing with international development partners.
The IMF initially approved the three-year loan program for Bangladesh in January 2023. With the upcoming instalment, the total amount disbursed so far will reach $3.3 billion.
