Bangladesh: Bangladesh seeks $4.5bn loan from IMF

DHAKA, 27 July 2022, (TON): Bangladesh has sent a formal request for a $4.5 billion loan to the Washington-based multilateral lender International Monetary Fund to combat the ongoing financial crisis.

Another reason for the loan request is foreign exchange reserves declining against excessive exports.

The loan request was made in a letter to IMF Managing Director Kristalina Georgieva.

According to sources, the government sought the amount as a balance of payment and budget support as well as to mitigate the effects of climate change on Bangladesh.

Finance ministry officials said “of the $4.5 billion sought, $1.5 billion would most likely be interest-free and the remaining amount would come at an interest less than 2%.”

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