The International Monetary Fund (IMF) has approved a US$1.3 billion disbursement of the third and fourth tranches of Bangladesh’s $4.7 billion loan program.
“The Executive Board of the IMF completed the combined 3rd and 4th Reviews of Bangladesh’s arrangements under the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF). The Executive Board also approved an augmentation of SDR 567.19 million (53.2 percent of quota) for the ECF/EFF arrangements and a six-month extension. Completion of these reviews allows the authorities to immediately withdraw SDR 650.5 million (about $884 million) under the ECF/EFF, and SDR 333.3 million (about $453 million) under the RSF,” said a IMF press release issued here today.
Further, the IMF Executive Board approved a modification of performance criteria and granted a waiver for the non-observance of the performance criterion related to the non-imposition and non-intensification of exchange restrictions, based on the temporary nature of the non-observance and the implementation of corrective measures.
Bangladesh’s arrangements under the ECF/EFF/RSF were approved on January 30, 2023, in an amount equivalent to SDR 2.5 billion (154.3 percent of quota or about US$3.3 billion) under the ECF/EFF and SDR 1 billion (93.8 percent of quota or about US$1.4 billion) under the RSF (PR no. 23/25)বিস্তারিত