Bangladesh and the IMF recently reached a staff-level agreement under the Extended Credit Facility, Extended Fund Facility, and the IMF’s new Resilience and Sustainability Facility (RSF), to support the authorities’ home-grown reform agenda.
The programme also focuses on supporting Bangladesh’s long-term, inclusive, and sustainable growth, IMF’s deputy managing director, Antoinette Sayeh, said in a press release.
She also said that just like countries around the world, Bangladesh is now dealing with the impact of global shocks—first from the pandemic and then from the ongoing war in Ukraine. She discussed the impact of these shocks on Bangladesh’s economy with Bangladesh’s prime minister, Sheikh Hasina, and finance minister, Mustafa Kamal. Sayeh also welcomed Bangladesh’s comprehensive set of measures to deal with the global shocks, including their focus on ensuring protection for the vulnerable during the difficult times.
Furthermore, Bangladesh’s prime minister said that the country does not want any assistance from the IMF for bail-out, rather the country has wanted the support as a pre-emptive measure, according to Bangladeshi media reports.
ALCHEMPro News Desk (DP)
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