IMF to expand cooperation with Bangladesh

The International Monetary Fund (IMF) has expressed interest in expanding its cooperation with Bangladesh under the ongoing $5.5 billion loan programme.

IMF Managing Director Kristalina Georgieva is set to hold a virtual meeting tomorrow evening (September 16) with Chief Adviser to the Interim Government, Dr. Muhammad Yunus, to discuss future collaboration.

Earlier, Dr. Yunus wrote to Georgieva thanking the IMF for its continued support in Bangladesh’s reform process. In response, the IMF chief assured him of the Fund’s commitment to supporting the country’s economic development going forward.

On January 30, 2023, the IMF Executive Board approved a $4.7 billion loan for Bangladesh, to be disbursed in six installments over 42 months. So far, five installments have been released. In June this year, the IMF agreed to provide an additional $800 million in light of Bangladesh’s requirements, raising the total package to $5.5 billion.