Bangladesh is now going to start talks with the International Monetary Fund (IMF) to get loans amid the continuous fall in foreign exchange reserves. Bangladesh sent its application for the loan to the IMF a few days ago. In this way, Bangladesh has become the third such South Asian country, which has gone under the protection of the IMF, amidst the current economic crisis growing around the world. Earlier, Sri Lanka and Pakistan requested the IMF to get a new loan.
According to Bangladesh's newspaper The Daily Star, Bangladesh has asked for a loan of $ 4.5 billion from the IMF. The Sheikh Hasina Wajed government of Bangladesh decided to approach the IMF after a sharp fall in foreign exchange reserves. According to experts, Bangladesh is also facing a foreign exchange crisis due to a rapid increase in the bill for other imports including natural gas, and a fall in exports.
Bangladesh is also willing to receive assistance under the IMF's new climate protection facility, according to the IMF. The IMF has created this new facility to help various countries to combat climate change. IMF spokesperson has said- 'IMF is ready to assist Bangladesh. Our staff will interact with the Bangladesh authorities as per the laid down policy and procedures. The amount of assistance will be decided only based on that negotiation.
The total economy of Bangladesh is $415 billion. It has recently been considered one of the fastest-growing countries in the world. Its textile industry in particular has been successful in creating a large market for itself in Europe, America, and Latin America. But recently, Bangladesh has had to pay a higher amount for imports of these items due to rising energy and food prices in the international market. Due to this, the balance of payments of many other countries has also deteriorated.
Since the corona pandemic, about 90 countries have approached the IMF to get loans. But the IMF has agreed to give loans to only a few of them. The IMF can lend up to one trillion dollars to member countries. So far, it has made up its mind to give a loan of $ 250 billion. The IMF often gives loans with strict terms. Therefore, its terms in different countries become a big cause of dispute.
Bangladesh Finance Minister AHM Mustafa Kamal has said, 'If the IMF's terms are favorable to us and they show synergy with our development policy, then only we will take a loan from it. Otherwise, we will refuse to take loans.’ The IMF has been imposing conditions in the past, including lending, cutting subsidies, and bringing transparency to the economy.
Meanwhile, Bangladesh's Chamber of Commerce and Industry has suggested that Bangladesh's central bank should consider replacing China's currency, the Yuvan, as a second reserve currency. The chamber has said that making the Yuvan a second reserve currency for international trade will bring great relief to the country because then the demand for dollars in the country will decrease.
Also Read: GST: Rs 1,48,995 crore GST collection in July, 28% increase over last year
Colombia: Four children survived by eating seeds, roots, and plants for 40 days in the Amazon forest, went missing in a plane crash
Forty days ago a plane crashed in the Amazon jungles of Colombia. After this incident, news came that all the people aboard the plane were killed. It is now reported that four children aboard this
Why Congress is absent from Gujarat and Himachal Pradesh elections, has already accepted defeat
The Election Commission can announce the assembly elections of Gujarat and Himachal Pradesh at any time. At the same time, if we talk about political parties in these states, then BJP has blown its
Crew: Kareena, Kriti, and Tabu's 'Crew' will blow away the box office, releasing in more than 75 countries
The 'crew' of Kareena Kapoor, Kriti Sen, and Tabu is ready to rock. The film is going to hit the theaters in just a few hours. Meanwhile, information has come to light that apart from India, the film
Weather Update Today: Heavy rain alert from Himachal to Chhattisgarh, How will the weather be in Delhi-NCR?
Weather Update Today: According to the India Meteorological Department (IMD), active monsoon conditions are likely over North Peninsular India, Odisha, and Chhattisgarh during the next four days.
India-America: Hopkins declares Indian-American student as 'world's most brilliant student' for the second time in a row
US-based John Hopkins Center for Talented Youth has declared Indian-American schoolgirl Natasha Periyanayagam as the 'world's most brilliant student' for the second year in a row, based on the results
Shambhu border: Sukhwinder came on a bicycle after traveling 300 KM, and a group of Nihang Singhs also reached.
The gathering of farmers at the Shambhu border is continuously increasing. There are more youth among the newly joining farmers. On Sunday, the sixth day of the farmers' protest, the atmosphere at the
Entry of this actor of Kisi Ka Bhai Kisi Ki Jaan in 'Pushpa 2', will work with Allu Arjun after Salman Khan
Kisi Ka Bhai Kisi Ki Jaan Villain Jagapathi Babu Confirms Working With Allu Arjun Starrer Pushpa 2: Salman Khan's film Kisi Ka Bhai Kisi Ki Jaan has been released on 21 April. The film features a host
Indigo: When the pilot announced a delay in the flight, passengers attacked him, the video went viral, investigation instituted
The process of flight delays continues due to bad weather. Meanwhile, a passenger became so angry over the delay in taking off from a plane in Delhi that he attacked the captain of the flight. A video
Gyanvapi Survey: ASI team reached the Gyanvapi campus for investigation on the seventh day, the secret of the northern basement will be revealed?
The ASI team reached the campus on Thursday morning for an investigation into the Gyanvapi campus. The 42 experts included in the survey team will examine the marked places by dividing them into four
First India-Central Asia meeting of the Security Council, NSA Doval said – Afghanistan is an important issue for all of us
India is hosting a conference of security officials for the first time today. Top officials from Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan attended the conference. The meeting is chaired by