IMF review mission due in Dhaka tomorrow

The third review mission of International Monetary Fund (IMF) is scheduled to arrive in Dhaka tomorrow (3 December) to assess the progress in meeting the conditions for releasing the fourth tranche of the $4.7 billion loan agreement. 

Upon their arrival in Dhaka, the team is scheduled to meet with Bangladesh Bank officials in the morning, followed by a meeting with the finance adviser at the ministry in the afternoon, finance ministry officials said this evening (2 December).

The IMF review mission will leave on 17 December.

Bangladesh has received three instalments under the IMF loan agreement so far, with the fourth instalment expected to be released in December.

To facilitate this, the IMF has set a target for Bangladesh's net foreign exchange reserves to reach at least $14.90 billion by the end of September and $15.31 billion by the end of December.

Bangladesh was initially required to have a minimum net foreign exchange reserve of $20.10 billion by the end of June to qualify for the third instalment of the loan agreement. When Bangladesh failed to meet this target, it was reduced to $14.78 billion at the government's request.

On 24 June this year, the IMF approved the release of $1.11 billion as the third tranche of Bangladesh's $4.7 billion loan.