Foreign exchange reserves now $23.57bn as per IMF formula
BI Report || BusinessInsider
Published: 18:46, 13 July 2023
Update: 18:49, 13 July 2023
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Bangladesh Bank (BB) has finally accepted the formula prescribed by the International Monetary Fund (IMF) in calculating foreign exchange reserves that stood at $23.57 billion on Thursday.
However, according to the Bangladesh Bank's calculations on Wednesday, the reserve was $29.97 billion.
One of the conditions for the IMF's $4.7 billion loan to Bangladesh was to release the reserve account by June as per a model called BPM-6.
