TBT DESK: Bangladesh Bank Governor Dr Ahsan H Mansur has said Bangladesh has signed a staff-level agreement with the International Monetary Fund (IMF) to receive the next installments under the ongoing loan programme.
Joining a press conference virtually from Dubai, Dr Mansur said the IMF is set to release the next two tranches totalling $1.3 billion of the $4.7 billion loan package by June 2025.
He hinted at a more flexible exchange rate regime for the US dollar, adding that the market will remain unaffected as there is an adequate supply of dollars at present.
Responding to a query, the Governor assured that easing the exchange rate will not fuel inflation, as the country's macroeconomic stability has already been restored.
"Bangladesh will receive a total of $3.5 billion in foreign loans from international agencies, excluding the IMF, by June 2025," he added.
Dr Mansur said the funding will come from the World Bank, the Asian Development Bank (ADB), the Japan International Cooperation Agency (JICA), and the International Infrastructure Development Bank.
Issuing a caution against market syndicates, the Governor said Bangladesh Bank will actively monitor the foreign exchange market. He further noted that the central bank has kept a reserve of foreign currency to ensure market stability.
Rejecting claims of an unusual spike in foreign exchange rates, Dr Mansur stated that banks and authorised exchange houses are required to submit exchange rate reports to the central bank twice a day.
He reaffirmed that Bangladesh Bank will closely monitor the currency market and intervene by selling dollars when necessary to curb any abnormal rise in the dollar rate.