IMF team due on Oct 26

The IMF (International Monetary Fund) Staff will be visiting Bangladesh from October 26 to November 9, 2022 to discuss issues relating to economic and financial reforms and policies with the Bangladesh authorities.

It was learnt that a proposed US$4.5 billion financing support from the Fund for Bangladesh would be high on the agenda during the IMF mission's upcoming visit.

The objective is to make progress towards a staff-level agreement on a prospective Extended Credit Facility/Extended Fund Facility programme and access under the newly-created Resilience and Sustainability Facility (RSF) in the coming months, said the IMF Staff statement on Friday.

"The RSF aims to provide affordable, long-term financing to help build resilience against climate risks in countries highly vulnerable to climate change, such as Bangladesh," it said.

The IMF staff would also continue the engagement with other stakeholders during the visit, the statement said, adding it would be the first mission and programme discussions would continue in the coming months.

The team will be led by Mr. Rahul Anand, IMF Mission Chief to Bangladesh, the IMF statement added.

Highlighting the overall economic situation, Bangladesh wrote a letter in July last to the IMF asking for a loan for maintaining the balance of transactions and budgetary support.

Although the loan amount was not mentioned in the letter, sources said then that Bangladesh wanted a $4.5 billion as budgetary support.

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