প্রকাশ: 06/08/2022
The International Monetary Fund said it would work with
Bangladesh to design a loan program request in coming months that meets the
country’s economic and social dynamics and has “safeguards” in the event of a
further deterioration in economic conditions.
In a revised statement of support for Bangladesh’s request
for a loan from the new IMF Resilience and Sustainability Trust, the Fund said
that work on an RST loan will proceed as the new trust is being made
operational.
It also said it will work with Dhaka to design an
IMF-supported reform program that would be required for the loan.
The Fund said in a statement that the amount of support that
can be provided to Bangladesh has “not yet been discussed - it will be part of
the program design discussions.”
Dhaka’s Daily Star newspaper reported last week that the
finance ministry was seeking $4.5 billion from the IMF, a figure that the Fund
has declined to confirm.
Reuters first reported last week that Bangladesh was seeking
the first loan from the RST, which is being created to allow wealthier
countries to channel part of their excess IMF Special Drawing Rights reserves
to poorer and vulnerable middle-income countries.
The Fund later said it was ready to support the request from
the third South Asian country to seek the Fund’s support after Pakistan and Sri
Lanka.
The IMF said external conditions for Bangladesh have
deteriorated sharply due to economic spillovers from the war in Ukraine.
“As part of the policy response, Bangladesh’s request for an
RST and accompanying IMF-supported program will provide safeguards in the event
of further deterioration of external conditions, while supporting the country’s
efforts to address the longer term macroeconomic implications of climate
change,” the Fund added.
- Reuters
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