US EditionBangladesh set to receive $1.3 billion from IMF next month after exchange rate agreement
- Bangladesh is expected to receive $1.3 billion from the IMF in June after the completion of the loan programme's fourth assessment phase, which is part of the overall $4.7 billion agreement.
- The release was delayed due to disagreements over exchange rate flexibility, which were resolved by agreeing on a managed floating exchange rate within a designated band.
- The government dissolved the National Board of Revenue, replacing it with two divisions to meet IMF conditions aiming to improve tax efficiency, transparency, and accountability.
- The finance ministry announced that following a thorough evaluation of all concerns, both sides have reached a consensus on frameworks related to revenue handling, currency exchange policies, and other reforms.
- This agreement and fund release signal progress in Bangladesh's reform efforts, supported also by expected budget aid of $2 billion from multilateral partners like the World Bank and Asian Development Bank.
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Total News Sources19
Leaning Left3Leaning Right6Center3Last UpdatedBias Distribution50% Right
Bias Distribution
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50% Right
L 25%
C 25%
R 50%
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