IMF gave a loan of 4 billion 70 million dollars to Bangladesh

Washington: The IMF has given a loan of 4 billion 70 million dollars to Bangladesh.

According to the details, Bangladesh has received a loan of 4.7 billion dollars from the International Monetary Fund (IMF) to deal with the financial crisis.

According to foreign media reports, in view of the economic crisis, the IMF has approved Bangladesh’s request for a loan of 4.7 billion dollars from three South Asian countries last year.

About $3.3 billion will be given to Bangladesh under the IMF Extended Credit Facility, of which $476 million will be released immediately.

The IMF Board has also approved $1.4 billion under the Climate Change Fund, making Bangladesh the first country in Asia to receive this amount.

The IMF said the loan would be used to stabilize the economy, and help advance the reform agenda in Bangladesh.

The loan approval by the IMF ahead of next year’s general elections is seen as a victory for Prime Minister Sheikh Hasina, as the country’s current account deficit was widening, the taka was depreciating and the exchange rate was depreciating. Reserves were running low.

It should be noted that last year, Bangladesh took a loan of 2 billion dollars from the World Bank and the Asian Development Bank in an effort to increase its foreign exchange reserves.

On the other hand, Pakistan and Sri Lanka are also facing serious economic problems, but despite this, the two countries are not being approved for loans by the IMF.