IMF agrees $4.5 billion aid package for Bangladesh to battle inflation
10th Nov 2022
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IMF agrees $4.5 billion aid package for Bangladesh to battle inflation
- The IMF said on Wednesday it reached a preliminary agreement to provide Bangladesh with a $4.5 billion support package to help it cope with soaring energy and food prices.
- Bangladesh plans to usethe IMF loan to prop up its foreign exchange reserves, which have nosedived from $46 billion to $34 billion.
- In a letter to IMF Managing Director Kristalina Georgieva, according to sources, the government sought the loan as a balance of payment and budget support as well as to mitigate the effects of climate change on Bangladesh.
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