Bangladesh is negotiating with the International Monetary Fund (IMF) for an additional $3 billion loan following political unrest that disrupted the economy, according to reports from BBC and Bloomberg.
The country had previously secured $4.7 billion from the IMF last year.
In an interview with Bloomberg, Bangladesh’s new central bank Governor Ahsan H Mansur said that the intention is to “augment” and “front load” this amount with the new loan.
Moreover, Bangladesh is seeking $1.5 billion from the World Bank and $1 billion each from the Asian Development Bank and the Japan International Cooperation Agency.
Following violent protests that led to Prime Minister Sheikh Hasina’s ouster, the country faces economic challenges, including disrupted garment exports. As of July 31, foreign reserves stood at $20.5 billion, sufficient for about three months of imports.
