IMF Approved US$1.33 Billion Grant to Bangladesh Amid Macroeconomic Strain

International Monetary Fund

Bangladesh: The IMF (International Monetary Fund) has completed a combined third and fourth review of Bangladesh program under three facilities, unlocking access to US$1.33 billion. This includes US$884 million under the Extended Credit Facility and Extended Fund Facility and US$453 million under the Resilience and Sustainability Facility. The IMF also approved an augmentation of 567.2 million special drawing rights with a six-month extension under its existing arrangements.

Bangladesh requested additional IMF support in May to address rising external financing needs and maintain macroeconomic stability. According to the IMF, "Bangladesh's program performance has been broadly satisfactory despite the difficult political and economic context and increased downside risks." The country first sought IMF assistance in 2023 due to declining foreign reserves following a global surge in commodity prices linked to the conflict in Ukraine.

Source: Economic Times