Monday, 2 October, 2023

Bangladesh expected to receive IMF loan’s 2nd installment in Nov

Bangladesh is expected to receive the second installment of the USD $4.7 billion loan from the IMF by November this year.

“Officials of the International Monetary Fund (IMF) visited Dhaka several times and found satisfactory achievement in different sectors. The second instalment of the loan will be released timely,” a senior official of the finance ministry told UNB on Monday.

Meanwhile, Bangladesh made reforms in some sectors and updated the latest information in line with IMF’s requirements. So there are no doubts about receiving the next instalment of the loan on time from the global lender, he said.

The forex reserves of Bangladesh Bank have fallen below the benchmark set by the IMF. There are concerns regarding the second instalment of the loan,

Dr Ahsan H Mansur, former economist of IMF, said.

However, Bangladesh Bank believes that the second instalment of the loan will be released on time.

Recently, a Bangladesh delegation held several meetings with the IMF delegation. At the meeting, the IMF delegation assured that the second tranche of the loan would be released on time.

Bangladesh received $470.62 million as the first instalment of IMF’s loan last February.

The entire amount of the IMF loan will be released to Bangladesh in seven instalments over three and a half years till 2026.