Bangladesh expected to receive IMF loan’s 2nd installment in November

Bangladesh is expected to receive the second installment of the $4.7 billion loan from the International Monetary Fund (IMF) by November this year.

"Officials of the International Monetary Fund (IMF) visited Dhaka several times and found satisfactory achievement in different sectors. The second installment of the loan will be released timely," a senior finance ministry official said on Monday, UNB reports.

Meanwhile, Bangladesh made reforms in some sectors and updated the latest information in line with IMF‍‍`s requirements. So there are no doubts about receiving the next installment of the loan on time from the global lender, he said.

The forex reserves of Bangladesh Bank have fallen below the benchmark set by the IMF. There are concerns regarding the second installment of the loan, Dr Ahsan H Mansur, former economist of IMF, said.

However, Bangladesh Bank believes that the second installment of the loan will be released on time.

Recently, a Bangladesh delegation held several meetings with the IMF delegation. At the meeting, the IMF delegation assured that the second tranche of the loan would be released on time.

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Bangladesh received $470.62 million last February as the first installment of the IMF‍‍`s loan.

The entire amount of the IMF loan will be released to Bangladesh in seven installments over three and a half years till 2026.