Bangladesh Wins Initial IMF Deal for $681 Million Payout
- IMF concludes review of nation’s $4.7 billion bailout program
- IMF urges further monetary tightening, greater FX flexibility
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Bangladesh won an initial funding approval from the International Monetary Fund, which allows the country to receive the next loan tranche from a $4.7 billion bailout package.
The staff-level agreement on economic policies must be approved by the IMF’s executive board before the South Asian nation can get its next payout of about $681 million, the Washington-based lender said on Thursday. Further monetary tightening, supported by neutral fiscal policy, and greater exchange rate flexibility, is needed to restore near-term macroeconomic stability, it said.