BB for further ease in forex reserve target

The Bangladesh Bank is negotiating with the International Monetary Fund to relax the net international reserves requirement following its failure to maintain the target.

Its officials said that they are holding meetings with a technical team of the IMF on the issue that is linked with the release of the next tranche under the current $4.7 billion loan programme.

The IMF team will hold a meeting with the BB governor today on Thursday, they said.

The BB has failed to keep the net international reserves at $17.78 billion at the end of December.

The NIR stood at $17.20 billion at the end of the year.

 

 

Finance ministry officials said that an IMF mission would arrive in the capital in the current month to review implementation of the loan programme.

The release of the next IMF tranche is due in May.

In that wake of dollar shortages, the government borrowed from the IMF.

The international lender has already disbursed around $1.1 billion under the loan programme that will expire in May 2026.

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