Thanks to bold reform measures taken by the authorities, the IMF has drastically slashed the Net International Reserves (NIR) requirement for Bangladesh for the fourth tranche of the $4.7 billion loans.
Bangladesh has failed to meet IMF’s target on keeping $17.78 billion as the minimum net international reserve as of December 31 last year
Bangladesh's foreign currency reserves rose to $20.41 billion today after $1.09 billion in loans from two global lenders were added to the central bank’s account, said an official.
The International Monetary Fund has set a new minimum foreign exchange reserves target for Bangladesh as the reserves have dropped at a faster-than-expected pace.
The recent downgrade by Moody's of the credit ratings of Bangladesh’s economy and some private banks is not the only indicator that confidence is declining.
