$4.5bn Credit: IMF delegation to arrive in Dhaka October 26

A delegation from the International Monetary Fund will arrive in Dhaka on October 26 to begin negotiations on Bangladesh’s appeal over a $4.5 billion credit to be meant for budgetary support, an IMF statement said on Friday.

The team from the Washington-based lending agency will be led by Rahul Anand, IMF Mission Chief to Bangladesh. The two-week visit will end on November 9.

The IMF will discuss with authorities about Bangladesh’s economic and financial reforms and review various policies. The objective is to make progress towards a staff-level agreement on a prospective Extended Credit Facility program and access to the newly created Resilience and Sustainability Facility (RSF) in the coming months.

The RSF aims to provide affordable, long-term facilities to help build resilience against climate risks in countries highly vulnerable to climate change such as Bangladesh. IMF staff would also continue the engagement with other stakeholder during the visit. Last week, Bangladesh Bank governor Abdur Rouf, in Washington, held discussions with Anand and IMF deputy managing director Antoinette M Sayeh on Bangladesh’s loan request. The central bank governor attended the IMF annual meeting in Washington during October 10 to October 16. According to the sources the IMF has hinted they may approve credit up to US $4.5 billion for Bangladesh.