IMF Loan: Bangladesh to get $112cr in 3rd installment

The Board of the International Monetary Fund (IMF) has approved the disbursement of the third installment of the $4.7 billion loan for Bangladesh.

As a result of this approval, Bangladesh will get $112 crore in the third installment. Bangladesh Bank expects to receive the money within the next two days, said Bangladesh Bank Spokesperson Majbaul Haque on Monday (June 24).

Bangladesh will get about $231 crore from the IMF in three installments after getting the money of the third installment. Earlier, Bangladesh received $47.63 crore in the first installment in February last year and last December received the second installment of $68.10 crore.

Bangladesh sought the loan from the IMF in July 2022 to deal with the economic crisis. Six months after Bangladesh's loan application, the agency decided to give a loan of $4.7 billion on January 30 last year. According to the IMF, the loan amount will be disbursed in a total of seven installments until 2026, subject to the fulfillment of conditions.

Among the conditions for obtaining the loan are lifting of interest rate limits on bank loans, leaving the value of the dollar to the market i.e. keeping a single price, maintaining a fixed level of foreign exchange reserves, adjusting the price of fuel oil to the international market at all times, reducing debt collection through sale of savings bonds etc.