$689 million IMF loan added to Bangladesh Bank's reserves

The International Monetary Fund's $689 million second tranche of its loan has been credited to the Bangladesh Bank's account, said a top central banker today.

The fund was added to the central bank's reserves on Thursday, said BB Executive Director and Spokesperson Md Mezbaul Haque.

It came two days after the executive board of the IMF completed the first review of the $4.7 billion loan programme and the Article IV consultations and unlocked disbursements of $689 million.

Bangladesh received $447.8 million on February 2 in the first instalment after the country turned to the lender amid an unprecedented reversal in the financial account that has led to a sharp drop in the reserve level in two years.

The reserves stood at $19.17 billion on Thursday, which was $46.4 billion in 2020-21, the highest on record.