Skip to content
Dansealsforcongress

Dansealsforcongress

Finance Leader

Primary Menu
  • Crypto News
  • Insurance
  • Mortgage
  • News Biz
  • Biz News
  • Finance
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • IMF says it is ready to support Bangladesh after loan request
  • Finance

IMF says it is ready to support Bangladesh after loan request

By Tori 6 months ago

Garment workers come out of a factory during the lunch break as factories remain open despite a countrywide lockdown, in Dhaka, Bangladesh, July 6, 2021. REUTERS/Mohammad Ponir Hossain

Register now for FREE unlimited access to Reuters.com

DHAKA, July 27 (Reuters) – The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third in South Asia to seek such support after Pakistan and Sri Lanka.

Bangladesh’s $416 billion economy has been one of the fastest-growing in the world for years, but rising energy and food prices because of the Russia-Ukraine war have inflated its import bill and the current account deficit.

The IMF said Bangladesh was interested in its new Resilience and Sustainability Facility aimed at helping countries face climate-change challenges and had also requested negotiations for an “accompanying IMF programme”.

Register now for FREE unlimited access to Reuters.com

“The IMF stands ready to support Bangladesh, and the staff will engage with the authorities on program design as per the established policies and procedures of the Fund,” an IMF spokesperson said. “The amount of support will be part of the program design discussions.”

Earlier in the day, Bangladesh’s finance minister told reporters the government would take an IMF loan only if conditions are favourable and said the country’s macroeconomic conditions were fine.

“If the IMF conditions are in favour of the country and compatible with our development policy, we’ll go for it, otherwise not,” Minister A.H.M. Mustafa Kamal said. “Seeking a loan from the IMF does not mean Bangladesh’s economy is in bad shape.”

The IMF’s resilience and sustainability trust caps funds at 150% of a country’s quota or, in Bangladesh’s case, a maximum of $1 billion. read more

Bangladesh’s Daily Star newspaper reported on Tuesday that overall, the country wanted $4.5 billion from the IMF, including for budgetary and balance-of-payment support. read more

The country’s economic mainstay is its export-oriented garments industry, which is bracing for a slowdown as key customers like Walmart are saddled with backlog as inflation forces people to prioritise essentials. read more

After garments, remittances are the second highest source of foreign currency for Bangladesh, a country of nearly 170 million people.

Its foreign exchange reserves fell to $39.67 billion as of July 20 – sufficient for just over five months worth of imports – from $45.5 billion a year earlier.

Its July to May current account deficit was $17.2 billion, compared with a deficit of $2.78 billion in the year-earlier period, as its trade deficit widened and remittances fell.

Register now for FREE unlimited access to Reuters.com

Additional reporting and writing by Krishna N. Das; Editing by Kim Coghill and David Holmes

Our Standards: The Thomson Reuters Trust Principles.

Tags: Amazon Fba Business, Atlanta Business Chronicle'S, Boss Baby Back In Business, Business Administration Degree, Business Attire Women, Business Card Design, Business Cards Templates, Business Casual Dress, Business Casual Outfits, Business Checking Account, Business Credit Card, Business For Sale Near Me, Business Intelligence Platform, Business Lawyer Near Me, Business Loan Calculator, Business Name Ideas, Business Professional Women, Business Spectrum Login, California Business Entity Search, Capital One Spark Business, Carl Weber'S The Family Business, Charlotte Business Journal, Custom Business Cards, Delaware Business Search, Fl Sos Business Search, Florida Business Search, Harvard Business Publishing, Insurance For Small Business, Kelley School Of Business, Maryland Business Express, Maryland Business Search, Moo Business Cards, National Business Furniture, New York Business Search, Ohio Business Gateway, Onedrive For Business, Online Business Ideas, Paramore Misery Business, Risky Business Cast, Small Business Insurance, Spectrum Business Customer Service, Tom Cruise Risky Business, Us Small Business Administration, Verizon Wireless Business, Verizon Wireless Business Login, Virtual Business Address, What Is Business Administration, Women'S Business Casual, Yelp Business Login, Yelp For Business

Continue Reading

Previous The Ultimate Branding Checklist: How To Create Your Branding Strategy
Next Savings month: Here’s where to put your money to work
February 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728  
« Jan    

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • September 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015

Recent Posts

  • An Exit Strategy Mindset – A Case Study On Choosing "Good" Vs "Bad" New Business Ventures
  • Interview an Expert to Create Magic
  • Top 5 Innovative IT Insurance Services
  • Book Summary: The Brower Quadrant – Live Life Deliberately – Written by Lee Brower
  • Personality Type – Rational – The Complex World of Problem Solving Personalities

BL

scorpion removal las vegas

citratextile.com

berasgandrung.co.id/grosir-beras-malang

Tags

5e Business Profit Ahron Levy Columbia Business School All Business Website Att Business Login business Business Consultant Certification Austin Business Insurance Cover Coronavirus Business Letter With Logo Example Business Located Easy Location Business Platform Stocks Business Positions Seattle Business Regulation Legal Services coronavirus Daystarr For Business Dimagi Business Development Toolkit Do Business Schools Accept Entreprenuers Enironmentall Friendly Business Ideas Eric Early Republican Business Owner Essec Business School Dean Essential Business To Remain Open Example Small Business Fall Winter Business Hours Template Fdot Woman Owned Business Certification First Business Women United States First Com Business Fixing A Damaged Reputation Business Florida Business Enforcement Free Small Business Communication Tool Future Business Ideas 2020 Latest Craze In America 2019 Law School Business Entity Outlines Mapping A Business Location Medical Business Trends Economics Mix Business And Personal Money Mlm Nit Small Business Legally New Business Agency Sales Questions Patricia Saiki Women'S Business 1990 Safety Business Proposal Sample Business Plan Entrepreneur School Business Administration Positions S Corp Business Deductions Search Tx Business Llc Sentextsolutions Business Cards Signs For Business On Roads Skype For Business Recording Capacity

Visit Now

Food Depot

contentplacement.id

dansealsforcongress.com | Magazine 7 by AF themes.