The goal is to make progress towards a staff-level agreement on a prospective extended credit facility or extended fund facility programme and access under the newly created resilience and sustainability facility (RSF) in the coming months, as per an IMF press release.

International Monetary Fund (IMF) representatives plan to visit Dhaka from October 26 to November 9 to discuss with the government economic and financial reforms and policies. The team will be led by Rahul Anand, IMF mission chief to Bangladesh. The terms of the $4.5-billion loan sought by Bangladesh as budget support will be reportedly discussed as well.

RSF aims to provide affordable, long-term financing to help build resilience against climate risks in countries highly vulnerable to climate change.

Bangladesh finance ministry officials expect to receive $1.5 billion as the first installment of the loan in January next year after negotiations on loan terms, according to a report in a local media outlet.

IMF staff would also continue engagement with other stakeholders during the visit. This is the first mission and programme discussions could continue over the coming months, the release added.

Fibre2Fashion News Desk (DS)