US Dollar
Dhaka, Bangladesh (BBN) - Bangladesh’s foreign exchange (forex) reserves crossed US$26 billion on Thursday after a substantial amount of fund was received from The International Monetary Fund (IMF) and other development partners as budget support.
"We’ve 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 (BB) spokesperson Md Mezbaul Haque told local media.
Mr. Haque also an executive director of the central bank of Bangladesh also said: "We’re yet to finalise the account. We will get the final figure on the next (working) day.” “Gross reserves would be around $26.5 billion.”
The country’s gross forex reserves was $24.63 billion of the previous working day.
Earlier on Monday, the IMF agreed to release $1.15 billion soon for Bangladesh in the third tranche of a $4.7 billion loan package for the South Asian country.
The decision was taken on the day in Washington DC when the IMF Executive Board completed its second reviews of the 42-month credit facility approved on 30 January 2023.
The first tranche of around $470 million was disbursed on February 02 just two days after the approval of the loan package. The entire amount of the IMF loan will be released to Bangladesh in seven instalments over three and a half years until 2026.
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