IMF Approves $1.3 Billion for Bangladesh as Reforms Advance

The International Monetary Fund’s executive board has approved a total of $1.3 billion in funding for Bangladesh as part of the ongoing loan program, as the South Asian country pushes ahead with currency and tax reforms.

The funding consists of $884 million after the IMF concluded the combined third and fourth reviews of the nation under the Extended Credit Facility and Extended Fund Facility, as well as $453 million upon Bangladesh’s completion of reviews under the Resilience and Sustainability Facility, according to an IMF statement released on Monday.