Staff Reporter :
Bangladesh is set to receive $3.5 billion in loans next month from multilateral lenders, including the World Bank, Asian Development Bank (ADB), International Monetary Fund (IMF), and Japan International Cooperation Agency (JICA), as part of broader efforts to stabilise its economy, Bangladesh Bank Governor Dr Ahsan H Mansur announced on Wednesday.
The central bank concurrently unveiled an immediate transition to a market-driven exchange rate system, abandoning its previous managed regime to comply with IMF loan conditions. Dr Mansur confirmed at a press briefing in Dhaka that the taka’s exchange rate against the US dollar would now be determined by market forces, though the central bank retains discretion to intervene during periods of volatility.
A confidential exchange rate band has been established under the new framework, with authorities expressing optimism that robust export revenues and remittance inflows will sustain stability.
The move follows a 13 May agreement between Bangladesh and the IMF, finalised after months of negotiations led by the governor. The IMF had mandated structural reforms, including overhauling revenue administration-particularly at the National Board of Revenue (NBR)-and adopting a flexible exchange rate, as prerequisites for its $4.7 billion assistance package approved in 2023.
Notably, the reforms proceed despite recent comments by Finance Advisor Salehuddin Ahmed, who asserted after meetings in Washington that Bangladesh’s economic resilience had diminished the immediacy of remaining IMF disbursements.
