Bangladesh wants another three billion dollar loan from the IMF

The new governor of Bangladesh Bank, Ahsan H. Mansoor, said that negotiations are underway with the International Monetary Fund (IMF) for another three billion dollar loan.

He said this in an interview given to the international media BBC and Bloomberg on Saturday (August 24).

Ahsan H. Mansoor told Bloomberg that Bangladesh has gone through recent political turmoil. So loan is needed to overcome this situation. Dollars are also being bought from local banks to settle outstanding loans.

Last year, Bangladesh received a loan of 4.7 billion dollars from the IMF. The governor said talks are underway with the organization to get an additional three billion dollars.

He said that an additional one and a half billion dollars have been requested from the World Bank and another one billion dollars from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA).

According to a Bloomberg report, the country's reserves were under pressure before the current crisis. As of last July 31, the amount of reserves was 20.5 billion dollars. About three months of import expenses can be met with it.

Bangladesh /KH