Forex reserves to cross $26b as IMF, others gave $2.25b in loans: Cenbank
Bangladesh’s foreign exchange reserves are expected to cross $26 billion as the International Monetary Fund (IMF) and other lenders have provided the country with some $2.25 billion in loans in recent days, the central bank said today (27 June).
“We have received $1.15 billion from the IMF. We also received around $900 million from other sources like South Korea, International Bank for Reconstruction and Development, and Islamic Development Bank IDB,” Bangladesh Bank spokesperson Md Mezbaul Haque told The Business Standard.
“The gross reserves will be more than $26 billion. We are yet to finalise the account as today is the day before the closing date. We will get the final figure on the next working day,” he added.
Bangladesh’s foreign exchange reserves rose by $318 million in the span of a week to hit $19.53 billion on 19 June, according to a recent UNB report.
On Monday (24 June), despite missing the net international reserves ceiling and revenue target, the IMF approved releasing $1.15 billion as the third tranche of Bangladesh’s $4.7 billion loan package.
Besides, the government has signed two loan deals worth $815 million with South Korea to build a rail-cum-road bridge over the River Karnaphuli at Kalurghat in Chattogram.
