IMF loan-After Pakistan and Sri Lanka, Bangladesh has become the third country in South Asia to seek IMF support.
Despite Bangladesh’s fast economic growth in recent years, rising energy and food costs caused by the Russia-Ukraine war have added to its import bill and current account deficit.
Bangladesh expressed interest in the Resilience and Sustainability Facility and requested negotiations for an accompanying IMF program to help it cope with climate change.
An IMF spokesperson said: “The Fund stands ready to support Bangladesh, and its staff will work with the authorities on program design in accordance with the Fund’s policies and procedures.” Support amounts will be discussed during program design.