Bangladesh has received the $690-million second tranche of its $4.703 billion loan from the International Monetary Fund (IMF) and $400 million loan from the Asian Development Bank (ADB) budget support loan.
It means around $1.09 billion has been added with Bangladesh’s foreign exchange reserves, amid dollar short supply in the domestic money market.
Mezbaul Hoque, Executive Director and Spokesperson of Bangladesh Bank (BB) on Saturday told UNB that on Friday night, this amount of loan assistance is added to the country’s foreign exchange reserves.
As a result, the reserve (gross) of Bangladesh stood at $25.71 billion on Saturday, which 0which was $24.62 billion on Thursday. Reserves increased to $25.71 billion due to the addition of IMF loans. However, if reserves are calculated according to the IMF formula or BPM-6, thereserve will stand at $20.25 billion.
Earlier, the second tranche of $4.7 billion loan for Bangladesh was approved at the meeting of the Executive Board of the organization held at the head office of the IMF in Washington on Tuesday.
Meanwhile, since Bangladesh could not achieve the foreign exchange reserve conservation target. at the end of last June, the IMF’s board approved the exemption that it formally sought from the IMF.
At the same time, a revised target for reserve conservation has been set at the end of December at $20 billion.
