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How many billion dollar loan has International Monetary Fund (IMF) approved for Bangladesh to deal with financial crisis?
A)
$4.5 billion
B)
$4.9 billion
C)
$5.4 billion
D)
$6.2 billion

Correct Answer :   $4.5 billion


Bangladesh and the International Monetary Fund (IMF) on Wednesday(9th Nov 2022) reached a preliminary agreement under which the global lender will provide a $4.5 billion support package to stabilise its economy and protect the vulnerable people.
 
The IMF agreement came months after discussions between the global lender and Bangladesh officials.
 
Bangladesh is the third South Asian nation after Sri Lanka and Pakistan to secure a bailout package from the IMF to tide over the sharp rise in food and energy prices caused by the coronavirus pandemic and the global inflation due to the Russia-Ukraine war.
 
The amount will be disbursed in seven installments till December 2026. The first installment of $447.48 million will be cleared in February 2023, while the loan's interest rate would depend on the market rate at the time of maturity, Finance Minister A.H.M. Mustafa Kamal told a news briefing after the signing of the agreement in Dhaka.
 
"We are getting the loan just the way we wanted. The International Monetary Fund will lend us a total of $4.5 billion," Mr. Kamal said.
 
The deal is subject to approval by the IMF's executive board, which is expected within weeks..

Source : The Hindu

Published On : November 10, 2022
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