It has been announced that a loan of 3.3 billion US dollars has been approved for Bangladesh under the International Monetary Fund’s Extended Credit Facility.
Accordingly, the International Monetary Fund has decided to immediately release 476 million US dollars from that loan amount.
Bangladesh is the first Asian country to be approved for a US$1.4 billion under the newly created Resilience and Sustainability Facility by the Executive Board of the International Monetary Fund.
The International Monetary Fund has stated in a statement that the 42-month program will help protect macroeconomic stability and protect the vulnerable.
“Since independence, Bangladesh has made steady progress in reducing poverty and significantly improving living standards. However, the COVID-19 pandemic and Russia’s subsequent war in Ukraine interrupted this long-standing strong economic performance. “Due to these multiple problems, the macroeconomic management of Bangladesh has become challenging,” the International Monetary Fund said in the announcement.
