IMF, Bangladesh reach tentative agreement for $4.5 billion loan – KION546

Dhaka, Bangladesh (AP) — The International Monetary Fund has announced that it will provide $4.5 billion with Bangladesh to help the country weather the turmoil caused by the war in Ukraine and manage risks from climate change. A preliminary agreement has been reached. The agreement reached on Wednesday is subject to approval by the IMF’s Executive Board, which is expected in the coming weeks. Bangladesh sought loans as its foreign exchange reserves dwindled due to a weaker currency and higher import costs. The IMF said in a statement that the funding is aimed at stabilizing the economy, protecting vulnerable people and promoting structural change that underpins strong, inclusive and sustainable growth.

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